On November 18th, the Brazilian fintech Nubank announced in a press release it would sponsor the oncoming FIFA World Cup in 2022 for the South American Market.Although the contract value was not disclosed, Nubank is preparing for its initial public offering where the company is expected to be valued at about $50 billion.
Nubank was founded in 2013 and is one of the largest digital retail financial institutions in the region with 48 million clients, having expanded to countries such as Mexico and Colombia. It started offering a free-of-charge credit card that could be managed through an app, and now they also offer other services such as business accounts and personal loans. With this sponsorship agreement they will have access to the World Cup’s brand assets, tickets and more to develop promotions and create opportunities to engage audiences.
The company’s Chief Marketing Officer, Arturo Núñez, commented the following on this sponsorship: “Our company’s growth has led us to seek new platforms and communication channels that allow us to deliver our message to the entire region. That is why we chose to be part of this event”.
Núñez also highlighted the characteristic passion that South Americans share when it comes to soccer, and especially when it comes to the FIFA World Cup, making this an outstanding opportunity to engage with an extremely broad audience. He also mentioned the following: “We will contribute to making this celebration even more extraordinary for everyone with exciting initiatives that will bring people together to feel the emotion that only a FIFA World Cup can bring.”
This agreement has become Nubank’s first big sponsorship contract ahead of an IPO that could rank the company as the most valuable fintech in Latin America.
You can read more about this partnership on Reuters and FIFA’s official website.
