Exclusive: Airwallex and McLaren to renew partnership as valuations soar

Fintech Airwallex will today extend its partnership with the McLaren Formula 1 team after both organisations enjoyed steep valuation boosts, City AM can reveal. The partnership, initially announced in 2024, will be renewed and upgraded, making Airwallex the Formula 1 constructors champions AI finance partner. It comes amid a boom for both brands. McLaren was valued at more than £3.5bn when its majority shareholder, Bahrain’s sovereign wealth fund Mumtalakat, purchased all other shares – roughly 30 per cent – in the Formula 1 team alongside an Abu Dhabi-based investment vehicle. Australia-founded business payments provider Airwallex hit a valuation of over £8bn in June after raising over £230m in a Series H funding round. The new partnership – announced today at an Airwallex Shift event at Bafta – positions it alongside McLaren title sponsor Mastercard, and firms such as OKX, Google and Allwyn. The team counts nearly 60 sponsors within its portfolio. Airwallex extends d