Mitch Fadel Joins the DriveItAway Holdings Board
DriveItAway Holdings, Inc. (OTC Marketplace: DWAY), a prominent player in the digital mobility sector, has taken a significant step forward by appointing Mitch Fadel to its Board of Advisors. Fadel, previously the CEO of notable companies like Upbound Group and Rent-A-Center, brings a wealth of experience that will be invaluable to DriveItAway as it continues to innovate in the flexible vehicle lease-to-own market.
A Stellar Career in the Lease-to-Own Sector
Throughout his distinguished career, Fadel has showcased his remarkable ability to drive growth and adaptation within the lease-to-own industry. His leadership at Upbound Group and its predecessor Rent-A-Center was marked by impressive achievements, including accelerated company growth, international expansion, and the creation of innovative retail strategies. Fadel's initiatives not only built the world’s largest virtual lease-to-own organization but also facilitated more than $2 billion in acquisitions.
Expertise in the Subprime Market
Fadel’s deep understanding of the subprime alternative credit market is a major asset. His tenure at EZ Pawn exemplifies his prowess, where he played a pivotal role in revitalizing the company, leading to a profit increase of 25% and tripling the stock price within just over a year. This hands-on experience speaks volumes about his capability to navigate challenging market segments and turn them into growth opportunities.
Vision for DriveItAway's Future
Expressing his enthusiasm for joining DriveItAway, Fadel remarked on the pressing need for accessible personal transportation in underserved demographics. He emphasized that automotive retail represents a critical frontier for innovation and believes DriveItAway is in a prime position to capitalize on this growing demand. Fadel's insights will likely play a monumental role in guiding DriveItAway towards a successful future, particularly as the company aims for a potential uplisting on Nasdaq.
Strategic Partnerships and Expansion
This new addition to the advisory board comes on the heels of DriveItAway's recent announcement of a national partnership with Free2move, Stellantis' global mobility brand. This collaboration is set to integrate flexible lease-to-own technology with vehicle supply backed by original equipment manufacturers (OEMs), laying the groundwork for substantial expansion in their service offerings.
About DriveItAway Holdings, Inc.
DriveItAway Holdings, Inc. is pioneering a new approach to automotive sales by creating a comprehensive mobility platform tailored for car dealers. With its unique 'lease-to-own' app-based subscription service, DriveItAway empowers dealers to enhance their online sales capabilities, fostering seamless transactions that ultimately drive profitability. The technology-driven solution includes mobile applications, insurance coverage, and dealer training, all designed to support dealers in seizing the opportunities presented by the online sales landscape.
Frequently Asked Questions
Who is Mitch Fadel?
Mitch Fadel is a seasoned executive known for his leadership in the lease-to-own industry, previously serving as CEO of Upbound Group and Rent-A-Center.
What is DriveItAway Holdings, Inc.?
DriveItAway is a national mobility platform that connects car dealers with customers through a seamless lease-to-own subscription service.
What are Fadel's contributions to DriveItAway?
Fadel brings strategic insights from his extensive experience in the lease-to-own market, which will help DriveItAway innovate and capture new market opportunities.
What is the Free2move partnership?
The partnership with Free2move aims to combine flexible lease-to-own technology with vehicle supply, enhancing DriveItAway’s service offerings.
What impact does Fadel's experience have on DriveItAway's future?
Fadel’s background in scaling businesses in the subprime market positions DriveItAway to navigate challenges and seize growth opportunities in the automotive retail space.
