F1: Mercedes F1 team signs Nuvei sponsorship
Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, and the Mercedes-AMG PETRONAS Formula One Team today announce a multi-year sponsorship agreement that will commence ahead of the 2023 F1 season.
Nuvei is a global payments technology company that is dedicated to accelerating its customers revenue growth through payments. With payments processing services in more than 200 markets, including local acquiring in over 45 countries, Nuvei connects eCommerce businesses with their customers wherever they are in the world.
In addition to payment processing and acquiring, Nuvei’s full stack solution includes pay-ins and payouts, optimization, orchestration, fraud prevention, risk management, and much more through a single, seamless integration. And in an era of eCommerce where agility is key to optimization, Nuvei’s modular approach to payments makes it the most flexible, customizable payments services provider in the market.
Nuvei is headquartered in Montreal and is listed on both the Nasdaq and Toronto Stock Exchanges.
“We’re thrilled to welcome Nuvei as a long-term partner in time for the start of the 2023 Formula One season,” said Toto Wolff, Team Principal and CEO of the Mercedes-AMG PETRONAS Formula One Team. “Nuvei has a reputation as a leader in its field with a global footprint. It’s dedication to performance excellence through innovation aligns with our values, so we’re looking forward to a successful period working closely together as we share the Nuvei brand with our global audience and find more similarities between our approaches to success.”
Nuvei Chair and CEO Philip Fayer commented on the announcement: “Being a people-first, technology-led business ourselves we identify strongly with the ethos of the team, which is just one of the reasons that we are incredibly excited to be joining the Mercedes-AMG PETRONAS Formula One Team family.”
“As a leading global payments company with a heritage of delivering the most agile and transformative payments technology in the market we know what it takes to sustain being at the cutting edge of innovation. So we’re proud to be associated with one of the most pioneering teams in the history of motorsport,” Fayer added.
“We are delighted to announce our new partnership with Nuvei ahead of the start of the season and welcome them into our partner ecosystem,” Richard Sanders, Chief Commercial Officer of the Mercedes-AMG PETRONAS Formula One Team added. “Fintech is a burgeoning industry and it’s exciting to be able to partner with one of the leading payment technology companies in this space. Our shared values provide the platform on which we are excited to build a successful, long-term partnership.”
From the 2023 Formula One season onwards, the Nuvei logo 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. Nuvei will also be able to utilise team members, including drivers Lewis Hamilton and George Russell, and Team Principal and CEO Toto Wolff for its wider marketing activities for customers, clients, and beyond.
Nuvei branding will be unveiled at the Team’s 2023 F1 car launch later this week.