English Premier League side Wolverhampton Wanderers Football Club, better known as Wolves, has announced that it has partnered with Neo, the cross-border payments and foreign exchange (FX) fintech, to become the club’s official currency exchange partner ahead of Season 2024/ 25.
As part of this deal, Neo will handle the club’s FX payments and multi-currency transfers, while helping Wolves save on foreign exchange transaction costs. This partnership represents Neo’s entry into the world of sports business and marks its first collaboration with a European football club.
Wolves had previous FX sponsors including the now-defunct Samtrade and UK brokerage 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, allowing companies to buy and sell any of these currencies with transparent pricing.
Neo’s wallet architecture also makes it easy for companies to organize their funds and store multiple coins, ready for quick payments or currency exchange, revolutionizing the way they trade.
Neo has also placed a strong emphasis on state-of-the-art customer support, lining up a team of highly skilled professionals to support customers in their cross-border operations.
Russell Jones, Wolves’ general manager of marketing and commercial development, said:
“Foreign exchange management is an important element of the commercial side of our football club.
“It is vital that we work with trusted partners to ensure our processes are optimized 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 an official currency partner of Wolves is a huge step forward for Neo and demonstrates our ability to work with exciting, global organizations and help optimize their multi-currency requirements.
“As a fintech company operating in a highly competitive industry, we understand the need to perform at the highest levels and recruit top talent from around the world, so this partnership aligns with our corporate culture.
“We look forward to working closely with the Wolves team and wish them all the success they deserve in the season ahead.”
Neo has become a one-stop shop for businesses worldwide, working with more than 300 companies in 28 countries and more than €16 billion cleared in Bank Identifier Code (BIC) on the SWIFT network.