EBlock Partners with Kinetic Advantage
Partnership increases dealer inventory options and borrowing power.
E Automotive Inc. d/b/a E INC (TSX: EINC) (the "Company" or "E INC") and EBlock, the leading digital automotive auction marketplace and a sub-brand of E INC, today announced a key partnership with Kinetic Advantage, an industry leader in floorplan technology. The agreement integrates Kinetic Advantage into the EBlock checkout.
The scarcity of automobiles is causing dealers to search for new sources to replenish their inventory. A partnership with EBlock, a well-established fully digital marketplace in Canada and a new player in the U.S marketplace, opens up those sourcing opportunities for Kinetic customers. Kinetic, a strong player in the U.S. floorplan marketplace, becomes a strong source of buying power for EBlock U.S. customers.
"This partnership is a win for our customers in the U.S. Kinetic is a strong floorplan and capital funding source which increases the capabilities of our customers to source the much-needed inventory they seek," said Jason McClenahan, President, and CEO of E INC.
"Kinetic is very pleased to partner with EBlock as a source for inventory to our independent dealers in the U.S. EBlock has a proven track record in Canada and is experiencing exceptionally strong growth in the U.S. Coupled with Kinetic's fast growth and best-in-class service I expect our dealers will greatly benefit from this new partnership," said Marty McFarland, President and CEO of Kinetic Advantage.
EBlock is a brand of parent company E INC. EBlock's online auction empowers dealers, wholesalers, and independent auctions to buy and sell inventory in less time and in a real-time virtual auction that creates the sense of urgency and energy found in a live auction.
Kinetic Advantage is a dynamic floorplan company led by trusted industry veterans. Its core focus is helping its independent dealer partners and team members succeed while providing them with an exceptional and engaging user experience. Kinetic is committed to forging strong partnerships through transparent communication and simple, innovative solutions. Kinetic provides its partners and team members with the support and tools they need to grow throughout their journey.
About E INC E INC's mission is to optimize the online vehicle buying, selling, and management experience for automotive dealers and consumers. E INC has a digital platform (the "Platform") that provides automotive dealerships with access to an online wholesale auction marketplace where they can purchase or sell vehicles to other dealers, as well as access innovative software solutions to support dealers' digital retailing and inventory management. Access to E INC's Platform is complemented by ancillary service offerings to assist dealers with supplementary auction-related needs, along with driving consumer traffic to their digital properties and optimizing other business processes. E INC's digital wholesale marketplace goes to market under the brand EBlock, and E INC's digital suite of retail products goes to market under the brand EDealer.
