Powerband Global Dealer Services closes financing

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By Ted Liu

Powerband Global Dealer Services Inc., a Burlington, Ontario based provider of mobile and web vehicle auction platforms to auto dealers, has closed first round of financing, raising $[mepr-active rule=”374″ ifallowed=”hide”]##subscriber ONLY content##[/mepr-active][mepr-active rule=”374″]719,250 from 14 BC, Alberta and Ontario[/mepr-active] investors.

Powerband’s LiveNetĀ® is a mobile auction platform that allows a seller to blast a vehicle call out to an unlimited number of buyers. The 20 minute mobile auction allows buyers to bid without the need of any installed software. Its MarketPlace is a web auction platform where vehicles that are offered for sales are fully indexed and accessible. Auction types include Make an Offer, Fixed Time Bidding, or Buy It Now Pricing.

Norton Rose Fulbright Canada LLP acts as legal counsel to Powerband Global Dealer Services.

photo credit: Powerband