Nuvei and Mercedes-AMG PETRONAS Formula One Team join forces ahead of new Formula One™ season
Leading global payments services provider and Formula One team sign multi-year sponsorship deal
MONTREAL and BRACKLEY, Feb. 13, 2023 (GLOBE NEWSWIRE) -- 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.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 600 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
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About Mercedes-AMG PETRONAS Formula One Team
Mercedes-AMG PETRONAS Formula One Team is the works team of Mercedes-AMG, competing at the pinnacle of motorsport – the FIA Formula One™ World Championship.
Formula One is a sport like no other. Combining elite teamwork, cutting-edge technologies and innovation, high-performance management and exceptional driving skill, teams develop race cars capable of competing against their rivals in a high-octane environment that spans upwards of 20 races across five continents throughout each season.
The Mercedes-AMG PETRONAS Formula One Team, based across Technology Centres at Brackley and Brixworth in the United Kingdom, brings together over 1,000 dedicated and determined people that design, develop, manufacture and race the cars driven by seven-time World Champion Lewis Hamilton and Grand Prix winner, George Russell.
Winning seven consecutive double Drivers’ and Constructors’ World Championships from 2014 to 2020 and securing a record-breaking eighth consecutive Constructors’ Championship success in 2021, the Team is one of the most successful in the sport’s history.
Between returning as a Constructor in 2010 and the end of the 2022 season, the Mercedes-AMG works team has scored 116 wins, 264 podium finishes, 128 pole positions, 91 fastest laps and 54 one-two finishes from 259 race starts.
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