INDIANAPOLIS – Paretta Autosport and MoneyLion announced Monday morning that the financial platform will become the first team sponsor of the No. 16 Chevy-powered Indy car 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 presented by Gainbridge on Sunday, May 30, with 2010 Indianapolis 500 Rookie of the Year Simona De Silvestro behind the wheel.
“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.”
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.