MoneyLion Joins Paretta Autosport as First Sponsor of the First Female INDYCAR Race Team at the Indianapolis 500
MoneyLion Launches Its “Women Who Roar” Campaign in Partnership with Paretta Autosport Focused on Leveling the Playing Field for Women Across Finance, Science and Technology
Indianapolis, Ind. (March 8, 2021) - Paretta Autosport and MoneyLion announced today that the financial platform, where hardworking Americans can bank, borrow, save and invest – all within one app, will become the first team sponsor of the No. 16 Chevy-powered INDYCAR at this year’s Indianapolis 500. Paretta is the first female owned, female driven, and female forward race team in the sport.
To further the INDYCAR’s “Race for Equality and Change” initiative announced last year, and in honor of International Women’s Day, MoneyLion and Paretta Autosport are also partnering to launch MoneyLion’s “Women Who Roar” campaign to advance financial empowerment, support women’s careers and level the playing field for women across a number of areas in finance, science and technology.
Paretta Autosport will enter the 105th running of the Indianapolis 500-Mile Race presented by Gainbridge on Sunday, May 30, with 2010 Indianapolis 500 Rookie of the Year Simona De Silvestro.
MoneyLion’s “Women Who Roar” campaign features:
Play Like a Girl Mentorship Program: MoneyLion and Paretta Autosport have committed to creating a unique Science, Technology, Engineering and Math (STEM) mentorship program for nonprofit, Play Like a Girl. This program will connect middle and high school girls with female leaders in the fintech and motorsports industries. It will also include a new “Here Women Roar” female executive leadership chapter of the organization focused on mentoring teenage girls about technology through customized fintech challenges. Not only will the partnership offer students career guidance, but it will bring them on-site to see their mentors in action, broadening their horizons on potential future careers. MoneyLion mentors will also participate in Play Like a Girl’s Women’s Leadership Summit on March 19.
“Women Who Roar” LinkedIn Group: Launching on March 16, MoneyLion is creating a space where women in the workforce can have candid conversations about issues such as financial wellness, mentorship and the wage gap.
“Women Who Roar” Conversation Series: MoneyLion is also launching a special conversation series, which includes in-depth interviews with eight influential female leaders, starting with Beth Paretta, CEO and Team Principal of Paretta Autosport, and Simona De Silvestro. The “Women Who Roar” series will air on Cheddar.com beginning on March 16 and explores women trailblazers’ career paths and advice for the next generation of female leaders.
“MoneyLion is committed to providing the financial products, educational resources and mentorship that’s much needed to level the playing field for today’s workforce and future generations of female leaders,” said Samantha Roady, MoneyLion Chief Operating Officer. “Beth Paretta has built an incredible, inspiring team with Simona as the driver. We’re proud to support a female-owned and operated business and to shine a light on inspiring women’s professional achievements through our sponsorship. We look forward to working closely with the team to bring ‘Women Who Roar’ to life.”
After decades of progress, COVID-19 lockdowns have forced many working women to stay home, fundamentally challenging their responsibilities as professionals and primary caregivers. For the first time in modern history, women are losing more jobs and have higher unemployment than men – exacerbating the existing wage gap.
“MoneyLion can contribute to the recovery from this she-cession by standing for ‘Women Who Roar,’” said Roady. “This partnership with Paretta is a first step in that wider campaign.”
“We’re thrilled to align with MoneyLion because of our shared ideals,” said Beth Paretta, CEO/team principal of Paretta Autosport. “MoneyLion’s focus on empowering women through improved financial access and literacy is a direct parallel to our mission of helping women advance their careers. We’re pleased that MoneyLion sees the value of our women-forward racing program and greatly look forward to being a part of their ‘Women Who Roar’ campaign.”
Automotive and motorsport executive Beth Paretta has a long history in leadership roles with some of the most respected automotive and performance brands, including FCA (Fiat Chrysler Automobiles), Aston Martin and Volkswagen Group. She led successful racing programs and earned three national championships during her tenure at FCA. She is also a board member of the Motorsports Hall of Fame of America.
“We welcome the support of finance and technology giants like MoneyLion to help us advance our mission to drive diversity and meaningful change for girls and women,” says Dr. Kimberly Clay, founder & CEO, Play Like a Girl. "Building a diverse pipeline of young women in STEM is a major priority for us. We’re thrilled to partner with MoneyLion and Paretta Autosport to support this work and our community.”
To learn more, please visit www.MoneyLion.com, www.ParettaAutosport.com and www.iplaylikeagirl.org.
Media Contacts:
MoneyLion: Iris Leung at pr@moneylion.com; 917.623.5919
Paretta Autosport: Barbara J. Burns at media@parettaautosport.com; 770.329.7134
Play Like a Girl: D. Channing Muller at channing@dcmcommunications.com; 202.744.5228
About MoneyLion
MoneyLion is a mobile banking and financial membership platform that empowers people to take control of their finances. Since its launch in 2013, MoneyLion has engaged with 7.5 million hard-working Americans and has earned its members' trust by building a full-service digital platform to deliver mobile banking, lending, and investment solutions. From a single app, members can get a 360-degree snapshot of their financial lives and have access to personalized tips and tools to build and improve their credit and achieve everyday savings. MoneyLion is headquartered in New York City, with offices in San Francisco, Salt Lake City, Sioux Falls, and Kuala Lumpur, Malaysia. MoneyLion has achieved various awards of recognition including the 2020 Forbes FinTech 50, Aite group best digital Wealth Management Multiproduct offering, Finovate Award for Best Digital Bank 2019, Benzinga FinTech Awards winner for Innovation in Personal Finance 2019 and the Webby Awards 2019 People's Voice Award. For more information, please visit www.moneylion.com or download the app.
About Paretta Autosport
Paretta Autosport is a new team competing in the NTT INDYCAR SERIES. With a technical alliance with Team Penske, they will attempt to qualify and compete in the 2021 Indy 500 and beyond. More than racing, Paretta Autosport is an initiative to encourage and mentor young girls and women to pursue careers in STEM-related fields. The team will incorporate women in key roles: mechanics, engineers, marketing, business operations, and more. Created by female automotive and motorsports executive Beth Paretta, the team is part of the INDYCAR series’ “Race for Equality & Change” initiative.
At Paretta Autosport, the competitive spirit drives us. We work hard and always strive for better: for ourselves, for our team, and for others. For more information, go to www.parettaautosport.com.
About Play Like a Girl
Play Like a Girl!® is a 501(c)(3) nonprofit organization founded on the belief that girls provided with the opportunity to play on a team become women with the confidence to stand on their own. We envision a world where the playing field is level and every girl reaches her full potential and are creating programs to leverage the skills girls gain from sport to propel them into competitive, male-dominated careers in science, technology, engineering and mathematics (STEM). We collaborate with schools, corporations and other partner organizations to deliver a coordinated, multi-year program model through which middle school girls experience practical lessons in leadership and engage in hands-on STEM education through the lens of a confidence-building curriculum, while being exposed to inspiring women coaches, mentors and role models. Since its founding in 2004, Play Like a Girl has benefited more than 50,000 girls and women across the world. Learn how you can get involved with this Nashville-based organization at iplaylikeagirl.org, and connect with us on Instagram, Facebook and Twitter.
See MoneyLion’s press release for additional information.