Mercedes announce Nuvei partnership

Canadian fintech firm Nuvei Corporation has announced a multi-year sponsorship deal with German Formula One team Mercedes. The new partnership will see the Nuvei branding feature on the helmets and overalls of the Mercedes drivers and also on the pit crew overalls and team clothing.

Nuvei has also announced that it will use team members, including Lewis Hamilton, Toto Wolff and George Russell, to reach out to wider audiences through marketing activities.

Headquartered in Montréal, Québec, Nuvei is a global payments technology firm that works towards  accelerating its customers revenue growth through payments. In addition to payment processing and acquiring, Nuvei’s full-stack solutions include pay-ins and pay-outs, optimisation, orchestration, fraud prevention and risk management.

Toto Wolff, Team Principal and CEO of the Mercedes-AMG PETRONAS Formula One Team, commented:

“We’re thrilled to welcome Nuvei as a long-term partner in time for the start of the 2023 Formula One season. 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, 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.“

Philip Fayer, CEO and Nuvei Chair, added:

“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.”

Richard Sanders, Chief Commercial Officer of the Mercedes-AMG PETRONAS Formula One Team, said:

“We are delighted to announce our new partnership with Nuvei ahead of the start of the season and welcome them into our partner ecosystem. 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.“