IndyCar: New Indy 500 team lands first sponsor

IndyCar team Paretta Autosport, set to debut in this year’s Indy 500, announced a partnership with MoneyLion, making them the team’s first sponsor.

In mid-January, Paretta Autosport announced that they would be making their IndyCar debut in the 105th running of the Indianapolis 500 at Indianapolis Motor Speedway with Simona de Silvestro as the driver of their #16 Chevrolet.

De Silvestro, the 2010 Indy 500 Rookie of the Year, has not competed in any IndyCar events since she last competed in this 200-lap race around the four-turn, 2.5-mile (4.023-kilometer) oval in Speedway, Indiana back in May 2015.

In five Indy 500 attempts, her career-best finish is 14th place from her rookie year.

Now Paretta Autosport have landed their first team sponsor for De Silvestro’s #16 Chevrolet.

MoneyLion, the financial platform where hardworking Americans can bank, borrow, save and invest, all within one app, announced that they will be on the #16 Chevrolet for her return to the Brickyard in two months.

In addition, they have also launched the “Women Who Roar” campaign ahead of De Silvestro’s Indy 500 return. Here is what Samantha Roady, MoneyLion Chief Operating Officer, had to say about the partnership and the initiative.

"“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.“Beth Paretta [team owner] 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.”"

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MoneyLion is a longtime partner of Team Penske, having served as the primary sponsor of their stock cars in the NASCAR Cup Series and Xfinity Series multiple times in recent seasons, and Team Penske’s IndyCar team and Paretta Autosport will have a technical alliance for this year’s running of the “Greatest Spectacle in Racing”.

Set to drive for Team Penske in this year’s Indy 500 are their four full-time drivers: 2018 winner Will Power, 2019 winner Simon Pagenaud, Josef Newgarden and rookie Scott McLaughlin.

The 105th running of the Indy 500 is set to be broadcast live from Indianapolis Motor Speedway on NBC beginning at 11:00 a.m. ET on Sunday, May 30.