Airwallex’s multi-year partnership with McLaren Racing has proven to be a game-changer, delivering exceptional results just one year into the collaboration.
Launched in February 2023, the alliance has showcased the power of strategic sponsorships in driving brand trust, awareness, and engagement.
The global financial company provides support to McLaren’s global financial operations through its treasury management, cross-border pay-outs, and settlement product suite.
A Partnership Built on Innovation
McLaren was the ideal partner for Airwallex, a Melbourne-born global financial technology company.
“We saw this investment as a way to really help drive awareness for the Airwallex brand and associate ourselves with a very trusted heritage brand in McLaren,” Jon Stona, Airwallex’s vice president of global marketing, told B&T.
The decision wasn’t made lightly. Airwallex conducted extensive research to identify the best-fit partnership, narrowing its focus on McLaren for its shared values of innovation and efficiency.
“McLaren has always been a forward-thinking entity in racing, which very much aligned with Airwallex’s ethos of forward-thinking financial services,” added Stona.
Stellar Results on and off the Track
The impact of the partnership has been substantial. In Airwallex’s recent brand survey, 58% of respondents said the McLaren sponsorship increased their trust in the brand, while 70% stated it made them more likely to choose Airwallex for their payment needs.
On the track, McLaren’s performance has seen a notable uplift. In 2023, the team had no wins and nine podium finishes. In 2024, they have already achieved five wins and 18 podium finishes.
Airwallex’s involvement, of course, goes beyond brand visibility. The company actively supports McLaren’s global financial operations.
This remarkable progress is attributed, in part, to Airwallex’s streamlined financial solutions. “Whatever savings they get off the track, they can reinvest on track to help car performance,” Stona explained.
“With F1 being so global and McLaren having so many suppliers, we’ve helped them cut down on time-consuming, manual processes. Transfers that used to take two to five business days can now be done on the same day,” said Stona.
This efficiency frees up funds for McLaren to re-invest in their racing efforts, which is crucial under F1’s stringent cost cap regulations.
“At McLaren, speed and innovation are essential to our success both on and off the track. Like all departments at McLaren, the finance team is mandated to look for marginal gains by consistently reviewing processes and using technology to optimise our business. By constantly monitoring spend and reporting back to the business, we can find new ways to free up funds to re-invest in our on-track efforts,” Laura Bowden, CFO at McLaren Racing, told B&T.
“In the competitive world of Formula 1, efficiency and performance are crucial both on and off the track. We are delighted to have Airwallex on board and use their innovative and trusted payment solutions to support our team’s financial operations,” said Zak Brown, CEO at McLaren Racing.
The Road Ahead
As Airwallex looks to 2025, the partnership promises further innovation and impact.
“We’re looking forward to welcoming Oscar Piastri back to Melbourne with an even bigger activation. We’ll continue to leverage local artists and push joint storytelling initiatives with McLaren,” said Stona.
In the competitive world of sponsorships, Airwallex and McLaren have exemplified how aligning shared values, leveraging technology, and embracing storytelling can create a partnership that drives growth on multiple fronts.
