Leasing Industry Icon Mitch Fadel Joins DriveItAway Holdings Board of Advisors
Rhea-AI Summary
DriveItAway Holdings (OTC:DWAY), a pioneer in digital mobility and flexible vehicle lease-to-own platforms, has announced the addition of Mitch Fadel to its Board of Advisors. Fadel, the former CEO of Upbound Group (NASDAQ:UPBD) and Rent-A-Center, brings extensive experience in the lease-to-own sector, having led over $2 billion in acquisitions and built the world's largest virtual lease-to-own company.
The appointment follows DriveItAway's recent national partnership with Free2move, Stellantis' global mobility brand, which combines flexible lease-to-own technology with OEM-backed vehicle supply. The company aims to transform automotive retail by making vehicle ownership accessible to traditionally underserved markets, with plans for a future Nasdaq uplisting.
Positive
- Addition of highly experienced executive Mitch Fadel, who drove over $2B in acquisitions at previous companies
- Strategic partnership with Stellantis' Free2move for OEM-backed vehicle supply
- Potential future Nasdaq uplisting plans indicate growth trajectory
- Expansion into underserved automotive market segments with proven lease-to-own model
Negative
- Currently trading on OTC markets, indicating smaller market capitalization and potentially lower liquidity
- Operating in subprime market segment which carries inherent credit risks
News Market Reaction – DWAY
On the day this news was published, DWAY gained 21.16%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Philadelphia, PA, Sept. 25, 2025 (GLOBE NEWSWIRE) -- DriveItAway Holdings, Inc. (OTC Marketplace: DWAY) (“DriveItAway” or the “Company”), a leader in digital mobility and flexible vehicle lease-to-own platforms, today announced that Mitch Fadel, former CEO of Upbound Group (NASDAQ: UPBD) and Rent-A-Center, has joined its Board of Advisors.
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), he accelerated growth, expanded internationally, created new retail partner divisions, built the world’s largest “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,” said John F. Possumato, Founder & CEO of DriveItAway Holdings. “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.”
Fadel added: “In my career at Upbound Group, Rent-A-Center, and EZ Pawn, I’ve seen firsthand the enormous demand for accessibility in underserved markets. Personal transportation is the next frontier. I’m excited to help DriveItAway capture this opportunity and build toward a future Nasdaq uplisting.”
This appointment follows DriveItAway’s recently announced national partnership with Free2move, Stellantis’ global mobility brand, integrating flexible lease-to-own technology with OEM-backed vehicle supply—creating a powerful platform for rapid expansion.
About DriveItAway Holdings, Inc.
DriveItAway Holdings, Inc. is the first national dealer-focused mobility platform that enables car dealers to sell more vehicles in a seamless way through eCommerce, with its exclusive “lease-to-own” app-based subscription. DriveItAway provides a comprehensive, turn-key, solutions-driven program with proprietary mobile technology and driver app, insurance coverages, and training to get dealerships up and running quickly and profitably in emerging online sales opportunities, to gain sales and market share.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect our good faith beliefs, assumptions, and expectations, but they are not guarantees of future performance. We caution investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release.
John F. Possumato DriveItAway Holdings, Inc. john@driveitaway.com
FAQ
Who is Mitch Fadel and why is his appointment significant for DriveItAway (DWAY)?
What is DriveItAway's (DWAY) partnership with Free2move?
What is DriveItAway's (DWAY) business model?
What are DriveItAway's (DWAY) plans for uplisting?
How does DriveItAway (DWAY) serve the automotive market?
