Nubank is the official financial institution in South America for the 2022 World Cup, which takes place in Qatar, according to a statement from the digital bank on Thursday (18), without disclosing the value of the contract.
The action is Nubank’s first major sponsorship deal, as it prepares for an initial public offering (IPO) in the United States. The expectation is to price the digital bank at around US$ 50 billion (R$ 274.935 billion). This figure would place it as the most valuable financial institution in Latin America.
In early November, the bank informed in a document that in the nine-month period to September 2021, it incurred a loss of US$ 99.1 million (R$ 561.7 million).
“Nubank’s growth has led us to seek new platforms and communication channels that allow us to take our message across the region. That’s why we chose to be part of this event,” said Arturo Núñez, Nubank’s Chief Marketing Officer, in a statement. .
Founded in Brazil in 2013, Nubank has expanded to Mexico and Colombia. Fintech currently has 48 million customers.
Adidas, Coca-Cola, Quatar Airways, Hyundai, Visa, Budweiser and Mc Donald’s are among FIFA’s official sponsors for the 2022 World Cup.
The exposure of brands to thousands of spectators during the 64 clashes of the sports dispute moves a millionaire market, which has even been the target of dispute for the broadcasting rights.
However, issues related to the conditions of workers in the construction of stadiums for the World Cup in Qatar have raised questions regarding sponsorship.
“We hope that FIFA will continue to work with Qatar and future host countries to ensure that human rights, including the rights and safety of workers, are respected in sport. We are closely monitoring these efforts and remain committed to engaging with ours. partners to generate positive change in our communities,” says a statement released by Coke earlier this year.
The negative impact that those responsible for organizing major sporting events can bring to brands was evidenced by the Copa América dispute in 2021 in Brazil.
Large companies such as Mastercard, Ambev and Diageo announced the withdrawal of sponsorship for the event, in the midst of holding the football championship when the pandemic was still very present in the region.
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