English Premier League team Wolverhampton Wanderers Football Club, better known as the Wolves, have announced that they have teamed up with Neo, the cross-border payments and foreign exchange (FX) fintech, to become the club’s official foreign currency exchange partner ahead of the 2024/25 season.
As part of this deal, Neo will handle the club’s FX and multi-currency transfer payments while helping Wolves save on its currency FX transaction costs. This partnership represents Neo’s entry into the world of sports business, and marks its first partnership with a European football club.
The Wolves have had previous FX sponsors, including now-defunct Samtrade, and UK based broker Trade Nation (formerly known as Core Spreads).
The Barcelona-based fintech allows businesses to send and receive payments in more than 20 currencies and also provides best-in-class FX execution, enabling firms to buy and sell any of these currencies with transparent pricing.
Neo’s wallet architecture also makes it easy for firms to organise their funds and store multiple currencies, ready for making rapid payments or exchanging currencies, revolutionising the way they transact.
Neo has also put a strong focus on state-of-the-art client support by lining up a team of highly skilled professionals who support clients with their cross-border operations.
Russell Jones, Wolves’ general manager for marketing and commercial growth, said:
“Foreign exchange management is an important element of the commercial side of our football club.
“It’s vital that we work with trusted partners to ensure our processes are optimised and we are confident that our partnership with Neo will add value to our global operations.”
Laurent Descout, co-founder and CEO of Neo, added:
“Becoming Wolves’ official foreign currency exchange partner is a huge step forward for Neo and demonstrates our ability to work with exciting, global organisations and help optimise their multi-currency requirements.
“As a fintech firm operating in an extremely competitive industry, we understand the need to perform at the highest levels and recruit top talent from across the world and so this partnership aligns with our own company culture.
“We look forward to working closely with the Wolves team and wish them all the deserved success in the season ahead.”
Neo have become a one-stop-shop for businesses across the globe, working with more than 300 corporates across 28 countries and more than €16 billion cleared through to its Bank Identification Code (BIC) on the SWIFT network.
