- Nuvei (NVEI) and Mercedes-AMG PETRONAS Formula One Team join forces ahead of the new Formula One™ season
- Formula One team signs multi-year sponsorship deal
- Annual budgets for teams in Formula One are in the hundreds of millions of dollars
- Logos will appear on the helmet and overalls of the Mercedes-AMG PETRONAS Formula One Team drivers as well as pit crew overalls and team clothing
- Branding will be unveiled at the team’s 2023 F1 car launch later this week
- Nuvei Corporation (NVEI) is down over .50 per cent, trading at C$43.98 at 2:41 pm EST
Nuvei Corporation (NVEI) joins Mercedes-AMG PETRONAS Formula One Team for a multi-year sponsorship agreement.
Dual-listed and headquartered in Montreal, Nuvei is stepping into a whole other world.
Formula One
Annual budgets for teams in Formula One are in the hundreds of millions of dollars, with each team building a new care every year.
The agreement is well in place prior to the start of the 2023 F1 season.
Nuvei’s solution includes pay-ins and payouts, optimization, orchestration, fraud prevention, and risk management through a single integration.
The company’s modular approach to payments makes it the most flexible, customizable payment services provider in the market.
Teaming up with arguably one of the best sports spectacles in the world, the likely hood of eyes on the technology company is inevitable.
Executives’ view of the deal
Team Principal and CEO of the Mercedes-AMG PETRONAS Formula One, Toto Wolff, is thrilled about the long-term partnership.
“Nuvei has a reputation as a leader in its field with a global footprint. Its dedication to performance excellence through innovation aligns with our values […].”
Chair and CEO of Nuvei, Philip Fayeteam, agrees with “the team’s ethos, which is just one of the reasons we are incredibly excited to be joining the […] teams family.”
“Fintech is a [big] industry. It’s exciting to partner with one of the leading payment technology companies in this space,” concluded Richard Sanders, CCO of the Mercedes-AMG PETRONAS Formula One Team.
Additionally, Nuvei logos will be on the helmet and overalls of the Mercedes-AMG PETRONAS Formula One Team drivers and the pit crew.
Utilizing team members is at the top of the list. Drivers like Lewis Hamilton, George Russell, Team Principal, and CEO Toto Wolff will promote the company.
Branding for Nuvei will be unveiled at the Team’s 2023 F1 car launch later this week.
Nuvei is a Canadian fintech company accelerating the business of clients around the world.
Nuvei Corporation (NVEI) is down over .50 per cent, trading at C$43.98 at 2:41 pm EST.
