Accelerate your ambition with Airwallex this racing season

This competition is a game of skill. A game of skill is a competition which requires an entrant to apply a level of thought and skill to their entry, and where the winner/s are determined based on qualitative methods rather than chance. In this case, winners will be determined by the entrant completing the entry form and answering the question: “If you could improve your financial processes in 2024, how would you do it and why?”. Entries will be judged by Airwallex based on the creativity of the response. Refer to the competition terms and conditions for more detail.

Airwallex is a leading global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury, and spend management to embedded finance. With our proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders. Proudly founded in Melbourne, Airwallex supports over 100,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more.

McLaren Racing was founded by racing driver Bruce McLaren in 1963. The team entered its first Formula 1 race in 1966. McLaren has since won 20 Formula 1 world championships, 183 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt.  

McLaren Racing competes across five racing series. The team competes in the FIA Formula 1 World Championship with McLaren F1 drivers Lando Norris and Oscar Piastri, the NTT INDYCAR SERIES with Arrow McLaren drivers Pato O’Ward, Alexander Rossi and David Malukas, the ABB FIA Formula E World Championship with NEOM McLaren Formula E Team drivers Jake Hughes and Sam Bird, and the Extreme E Championship as the NEOM McLaren Extreme E Team. The team also competes in the F1 Sim Racing Championship as McLaren Shadow, having won the 2022 Constructors’ and Drivers’ Championships.

McLaren uses Airwallex to optimize its supply chain payments for all Grands Prix. McLaren’s previous approach limited payment to suppliers, such as hotel and event space providers, to a singular currency account, based in the UK, resulting in high foreign exchange (FX) charges, slow transfer time, and additional SWIFT fees.

Airwallex’s financial technology unlocks multi-currency payment options for McLaren, providing the company the ability to hold core currencies and exchange them with speed and ease at any point. By leveraging our extensive global proprietary payment rail network, Airwallex can help to reduce the amount of SWIFT fees that may be payable.

As part of this partnership, Airwallex will also provide technology to support the launch and ongoing operation of McLaren’s digital partner merchandise platform - further enhancing their multi-currency collection capabilities and allowing them to offer a broad range of global and local payment options.

Local currency accounts can be used to avoid unnecessary conversion fees and to save on everyday expenses. You can collect payments from your international customers in their preferred currency and then spend those proceeds later in the same currency (for example, to pay global suppliers and employees), thereby eliminating unnecessary conversion fees. You can also benefit from holding funds in a foreign currency until FX rates are favourable enough to convert these funds to your home currency.