The fintech will not only be the main sponsor, but also the bank of the Audi team – and will use Formula 1 as a lever for global growth.
When Audi and Revolut presented their joint Formula 1 team in Berlin on Tuesday, it quickly became clear: both sides have great expectations for the project. It is Audi’s first appearance in the premier class of motorsport. For the British fintech, this is the largest marketing offensive in its company history to date.
The name Revolut will be prominently displayed on the silver car with lava-red elements. At the wheel are the experienced German driver Nico Hülkenberg, who is starting his 15th Formula 1 season, and the Brazilian young talent Gabriel Bortoleto.
Revolut not only acts as a brand partner, but is also operationally integrated into the racing team. The fintech takes on the role of commercial bank for the Audi team.
“The Audi team works with Revolut Business – we are the bank through which the entire team runs,” Antoine Le Nel, Chief Growth and Marketing Officer of Revolut, tells Gründerszene. These include, among other things, salary payments, treasury management, international payment transactions, foreign currency processes and the control of expenses. The sale of fan items is also connected: fans can pay directly via Revolut Pay.
The strategic motives
There are several overarching goals for the fintech behind the entry, says Le Nel.
On the one hand, Revolut wants to be perceived more as a fully-fledged bank – not just an app for payments or travel. The fact that a large corporation like Audi handles financial processes via Revolut should support this perception. At the same time, business with corporate customers is to be expanded. So far, Revolut has primarily been perceived as a B2C product; in the future, the company wants to grow more in business banking – from startups to larger companies.
Secondly, the deal is aimed at international expansion. Revolut is currently active in 39 countries, while Formula 1 reaches almost all global markets. The presence in motorsport should make market entry easier in new regions. Le Nel cites Colombia as an example: Revolut wants to start there soon – and hopes that the brand will be known through its Formula 1 presence before it enters the market.
Growth target: 100 million customers
Revolut currently has around 70 million users worldwide. The additional visibility from Formula 1 should further accelerate this growth. The goal is 100 million customers by the first half of 2027.
