PowerBand
PowerBand is a company.
Active
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Financial History
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Leadership Team
Key people at PowerBand.
Frequently Asked Questions
Who founded PowerBand?
PowerBand was founded by Anand Lalwani (Co-Founder).
PowerBand is a company.
Key people at PowerBand.
PowerBand was founded by Anand Lalwani (Co-Founder).
PowerBand was founded by Anand Lalwani (Co-Founder).
Key people at PowerBand.
PowerBand Solutions (soon rebranded as AmeriTrust Financial Technologies Inc.) is an automotive fintech company that provides an integrated, cloud-based transaction platform enabling consumers, dealers, funders, and manufacturers to buy, sell, trade, finance, and lease vehicles online. Its platform, trademarked as DRIVRZ, offers an end-to-end digital solution for new and used vehicles—including electric models—allowing transactions to be completed via smartphones or other digital devices from any location. PowerBand aims to remove intermediaries to deliver the lowest possible prices and a seamless, haggle-free experience, addressing a market opportunity estimated at $1 trillion. The company targets consumers seeking convenience and transparency in vehicle transactions and financial institutions looking to create leasing portfolios[1][4][5].
Founded in the mid-2010s, PowerBand Solutions was created to modernize and digitize the automotive retail and finance experience. The idea emerged from recognizing consumer demand for an Amazon- or Uber-like ease in buying, selling, and financing vehicles online. Key leadership includes CEO Jeff Morgan and previously Kelly Jennings, who emphasized the mission to simplify vehicle transactions during the pandemic. Early traction involved securing funding rounds (e.g., $1.2 million in 2020 and $20 million in 2024) to advance its cloud-based platform and expand its market reach across North America and globally. The company’s evolution includes a strategic rebranding to AmeriTrust Financial Technologies Inc. in late 2024 to better align with its fintech mission[1][2][5][6][7][8].
PowerBand rides the growing trend of digital transformation in automotive retail and finance, accelerated by consumer demand for online, contactless transactions and the rise of electric vehicles. The timing is favorable due to pandemic-driven shifts in buying behavior and the increasing complexity of vehicle financing. Market forces such as the $1 trillion automotive transaction market, the need for streamlined leasing solutions, and the push for fintech innovation in auto finance work in PowerBand’s favor. By integrating multiple stakeholders—consumers, dealers, funders, and OEMs—on a single platform, PowerBand influences the broader ecosystem by promoting transparency, efficiency, and accessibility in vehicle commerce[1][4][5].
Looking ahead, PowerBand (AmeriTrust) is positioned to expand its platform capabilities, deepen partnerships with financial institutions, and scale across North American and global markets. Trends shaping its journey include the continued digitization of automotive retail, growth in electric vehicle adoption, and increasing demand for flexible leasing and financing options. As the company enhances its product offerings and market presence, its influence could grow from a niche fintech disruptor to a key enabler of the future automotive transaction ecosystem, potentially transforming how vehicles are bought, sold, and financed worldwide[5][6][8].
