PowerBand Sees Additional US$2.7 Million Investment From D&P PowerBand Solutions (TSXV: PBX) has secured an additional US$2.7 million from Texas-based D&P Holdings Inc as part of the previously announced US$10 million investment by the firm. The additional investment comes as PowerBand prepares to commence vehicle lease originations this month in the US.
The funding injection from D&P will be put towards PowerBand’s leasing platform in the United States, known as MUSA Auto Finance LLC, assisting the company in being able to commence originations this month. Funds will also be put towards the launch of the consumer app being developed by PowerBand, known as Driveaway, which will allow people to access virtual auto auctions to buy and sell used cars from dealers and consumers alike.
The consumer app is intended to offer a wider auction audience to ensure the value of vehicles is recognized, enabling consumers and commercial partners to get the best bang for their buck while eliminating transport fees to physical lots.
https://thedeepdive.ca/powerband-sees-additional-us2-7-million-investment-from-dp-holdings/