DriveItAway Holdings Welcomes Mitch Fadel to Advisory Board
Mitch Fadel Joins DriveItAway Holdings Advisors
In a significant move for DriveItAway Holdings, Inc. (OTC Markets: DWAY), the company has welcomed Mitch Fadel to its Board of Advisors. Known for his influential role in the leasing industry, Fadel's presence is set to enhance DriveItAway’s mission of offering innovative digital mobility solutions.
A Leader in Lease-to-Own Sector
Mitch Fadel is well-recognized as a venerated figure in the lease-to-own segment. His previous leadership at Upbound Group and Rent-A-Center—key players in this industry—has positioned him as a seasoned expert ready to drive change at DriveItAway. Fadel has a proven track record of generating growth, facilitating international expansion, and constructing arrangements that are beneficial for both customers and stakeholders.
Exceptional Growth Initiatives
During his tenure at Upbound Group and its predecessor, Rent-A-Center, Fadel accelerated growth strategies that not only included international markets but also introduced new retail partnerships. Under his stewardship, the company achieved over $2 billion in acquisitions, solidifying itself as a market leader.
Transforming the Non-Prime Consumer Market
His earlier career also includes a pivotal role at EZ Pawn, where he played a crucial part in elevating profits by 25% and greatly enhancing the company’s stock price within a year—testament to his ability in identifying and acting on growth opportunities.
Vision for DriveItAway
John F. Possumato, the Founder and CEO of DriveItAway Holdings, expressed his enthusiasm regarding Fadel’s appointment, noting that few executives possess the depth of experience in the subprime alternative credit market as he does. Fadel’s insight is expected to uniquely position the company in the automotive retail sector, making vehicle access more feasible for consumers who have been historically underserved.
Building Towards the Future
In discussing his new role, Fadel highlighted the critical demand for accessible personal transportation within underserved markets. His excitement about advancing DriveItAway’s objectives reflects both a personal commitment and a professional vision for the company’s future trajectory, including aspirations for a Nasdaq uplisting.
Recent Strategic Partnerships
The announcement of Fadel’s appointment comes on the heels of DriveItAway’s recent partnership with Free2move, a brand affiliated with Stellantis. This collaboration aims to integrate cutting-edge lease-to-own technology with a reliable supply of vehicles, offering a revolutionary foundation for expansion in the automotive space.
About DriveItAway Holdings, Inc.
DriveItAway Holdings, Inc. establishes itself as the foremost dealer-focused mobility platform nationwide. The company's innovative approach enables car dealerships to enhance their sales through straightforward eCommerce solutions, including a unique lease-to-own mobile application. Their strategic program also encompasses extensive support through proprietary technology, insurance provisions, and dealer training, facilitating rapid growth in online sales and improving market competitiveness.
Frequently Asked Questions
What is DriveItAway Holdings, Inc.?
DriveItAway Holdings, Inc. is a national dealer-focused mobility platform that enhances vehicle sales through eCommerce and lease-to-own options.
Who is Mitch Fadel?
Mitch Fadel is a seasoned executive with extensive experience in the lease-to-own sector and has recently joined DriveItAway's Board of Advisors.
What are Fadel's contributions to the industry?
Fadel has significantly influenced growth strategies and market expansions in his previous roles at Upbound Group and Rent-A-Center.
What new partnerships has DriveItAway announced?
DriveItAway has established a partnership with Free2move, integrating lease-to-own technology with reliable vehicle supply.
What is the vision for DriveItAway?
The vision is to make affordable vehicle access a reality for those typically excluded from vehicle ownership, with plans for future market expansion.
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