PowerBand Solutions Expects DrivrzXChange Rollout To Resume In Q1 2022

PowerBand Solutions (TSXV: PBX) this morning provided an update to the market with respect to the rollout of DrivrzXchange, a vehicle marketplace platform it has been developing. The platform will reportedly resume rollout across the US in the first quarter of 2022.

The development follows a trial launch of the tech, whereby the company and its partner D2D Auto Auctions conducted a 90-day testing phase in select US markets. The trial saw the use of focus groups to get a better understanding of consumer perspectives and needs for the platform, as it works to improve the overall user experience.

Improvements from the focus groups have lead the company to develop a companion mobile photo app, as well a streamline vehicle data capture and workflow changes.

“Our asset-light, dealer inclusive model is perfectly suited to a time in the industry where both private sellers and dealerships are looking for a platform that can get them more money with less effort for their vehicle. [..] Vertical integration with DrivrzLane and DrivrzFinancial sweetens the offering by giving dealers and consumers with access to the assets that they need,” said Darrin Swenson, COO of the company.

PowerBand Solutions last traded at $0.96 on the TSX Venture.

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