DriveItAway reinforces board of advisors, striving toward NASDAQ uplisting
Image courtesy of the company.
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DriveItAway Holdings added another expert to its board of advisors on Thursday with an eye toward a NASDAQ uplisting.
The provider of digital mobility and flexible vehicle lease-to-own platforms announced that its newest member of its board of advisors is Mitch Fadel, who is the former CEO of Upbound Group and Rent-A-Center.
DriveItAway highlighted Fadel is one of the most accomplished executives in the lease-to-own sector.
During his leadership at Upbound Group and Rent-A-Center (the predecessor company of the Upbound Group), Fadel accelerated growth, expanded internationally, created new retail partner divisions, built a “virtual” lease-to-own company, completed over $2 billion in acquisitions, and ultimately drove tremendous shareholder value.
Part of his lifelong career serving the non-prime consumer was spent at EZ Pawn, where he helped engineer a turnaround that increased profits 25% and more than tripled the stock price in just over a year.
“Few executives have more experience serving the subprime alternative credit market — and scaling companies profitably — than Mitch,” DriveItAway Holdings founder and CEO John Possumato said in a news release.
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“With his counsel, DriveItAway is uniquely positioned to transform automotive retail, making affordable, flexible vehicle access a reality for millions traditionally shut out of ownership,” Possumato continued.
This appointment follows DriveItAway’s national partnership with Free2move, Stellantis’ global mobility brand, integrating flexible lease-to-own technology with OEM-backed vehicle supply, creating a platform for rapid expansion.
“In my career at Upbound Group, Rent-A-Center, and EZ Pawn, I’ve seen firsthand the enormous demand for accessibility in underserved markets,” Fadel said in the news release. “Personal transportation is the next frontier. I’m excited to help DriveItAway capture this opportunity and build toward a future NASDAQ uplisting.”