Tag: Beth Paretta

Money Lion First Sponsor for Paretta Autosport

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Money Lion is the first associate sponsor for Paretta Autosport, the number 16 car in the 105th running of the Indianapolis 500 to be driven by Simona DeSilvestro. The announcement comes on International Women’s day. Sponsorship activation will include several initiatives under Money Lion’s “Women Who Roar” campaign.

The news release:

MoneyLion Launches Its “Women Who Roar” Campaign in Partnership with Paretta Autosport Focused on Leveling the Playing Field for Women Across Finance, Science and Technology

Indianapolis, Ind. (March 8, 2021) -Paretta Autosport and MoneyLion announced today that the financial platform, where hardworking Americans can bank, borrow, save and invest – all within one app, will become the first team sponsor of the No. 16 Chevy-powered INDYCAR at this year’s Indianapolis 500. Paretta is the first female owned, female driven, and female forward race team in the sport.

Paretta Autosport began earlier this year as part of Indycar’s Race for Equality and Change. The team has a technical partnership with Team Penske.

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-Mile Race presented by Gainbridge on Sunday, May 30, with 2010 Indianapolis 500 Rookie of the Year Simona De Silvestro.

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.

“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 aboard 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.”

To learn more, please visit www.MoneyLion.com, www.ParettaAutosport.com and www.iplaylikeagirl.org.

Media Contacts:
MoneyLion: Iris Leung at pr@moneylion.com; 917.623.5919
Paretta Autosport: Barbara J. Burns at media@parettaautosport.com; 770.329.7134
Play Like a Girl: D. Channing Muller at channing@dcmcommunications.com; 202.744.5228

About MoneyLion
MoneyLion is a mobile banking and financial membership platform that empowers people to take control of their finances. Since its launch in 2013, MoneyLion has engaged with 7.5 million hard-working Americans and has earned its members’ trust by building a full-service digital platform to deliver mobile banking, lending, and investment solutions. From a single app, members can get a 360-degree snapshot of their financial lives and have access to personalized tips and tools to build and improve their credit and achieve everyday savings. MoneyLion is headquartered in New York City, with offices in San Francisco, Salt Lake City, Sioux Falls, and Kuala Lumpur, Malaysia. MoneyLion has achieved various awards of recognition including the 2020 Forbes FinTech 50, Aite group best digital Wealth Management Multi product offering, Finovate Award for Best DigitalBank 2019, Benzinga FinTech Awards winner for Innovation in Personal Finance 2019 and the Webby Awards 2019 People’s Voice Award. For more information, please visit www.moneylion.com or download the app.

About Paretta Autosport
Paretta Autosport is a new team competing in the NTT INDYCAR SERIES. With a technical alliance with Team Penske, they will attempt to qualify and compete in the 2021 Indy 500 and beyond. More than racing, Paretta Auto sport is an initiative to encourage and mentor young girls and women to pursue careers in STEM-related fields. The team will incorporate women in key roles: mechanics, engineers, marketing, business operations, and more. Created by female automotive and motorsports executive Beth Paretta, the team is part of the INDYCAR series’ “Race for Equality & Change” initiative.

At Paretta Autosport, the competitive spirit drives us. We work hard and always strive for better: for ourselves, for our team, and for others. For more information, go to www.parettaautosport.com.

About Play Like a Girl
Play Like a Girl!® is a 501(c)(3) nonprofit organization founded on the belief that girls provided with the opportunity to play on a team become women with the confidence to stand on their own. We envision a world where the playing field is level and every girl reaches her full potential and are creating programs to leverage the skills girls gain from sport to propel them into competitive, male-dominated careers in science, technology, engineering and mathematics (STEM). We collaborate with schools, corporations and other partner organizations to deliver a coordinated, multi-year program model through which middle school girls experience practical lessons in leadership and engage in hands-on STEM education through the lens of a confidence-building curriculum, while being exposed to inspiring women coaches, mentors and role models. Since its founding in 2004, Play Like a Girl has benefited more than 50,000 girls and women across the world. Learn how you can get involved with this Nashville-based organization at iplaylikeagirl.org, and connect with us on Insta

Season Opener Moving to April 18; Shown on NBC

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The shift was bound to happen. As reported by other sources last night, The Honda Indy Grand Prix of Alabama at Barber Motorsports Park has been moved to April 18. The move allows the race to be on NBC rather than NBCSN. Barber is till the season opener and the Firestone Grand Prix of St, Petersburg follows a week later.

The NTT Indycar Series now begins its season with three consecutive weekends and four races. Following St. Pete, the series goes to Texas for a Saturday/Sunday doubleheader May 1 and 2.

Activity begins at the Indianapolis Motor Speedway May 14 with GMR Grand Prix weekend.

End of Schedule Changes?

I wouldn’t count on it. With rumblings that the Olympics will be cancelled, NBC Sports networks will have a lot of time to fill. Like last year, Indycar now has some fallback dates. I doubt that any new races will be added, but Indycar has to do something to stay in public view between the Toronto race on July 11 and the Music City Grand Prix August 8.

Today’s move is the third schedule change and the season hasn’t started. Last year there were six schedule changes.

Race for Equality and Change Taking Proactive Approach

This week’s announcement of Paretta Autosport with technical assistance from Team Penske adds another dimension to the Race for Equality and Change. Paired with Force Indy, which intends to promote African Americans in the sport, the REC is attempting to expand the reach and appeal of Indycar.

Beth Paretta’s experience and her contacts in motorsports is a plus for the new team.

Beth Paretta

Bringing Simona De Silvestro back to the Indianapolis 500 is a great move. De Silvestro has endured all kinds of misfortune at IMS from fire to uncompetitive cars. This might be her best shot at success.

Simona De Silvestro

The next step for the Race fo Equality and Change is to bring other interested teams and individuals. I would love to see Jacki Henricher become involved with Indycar.

Paretta Autosport Brings Female-Led Team to Indy; DeSilvestro Returns to the 500

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Simona De Silvestro returns to the Indianapolis 500 with Paretta Autosport, headed by Beth P.aretta. The team will receive technical support from Team Penske. More details later.

The announcement from Indycar:

Paretta Autosport, a new NTT INDYCAR SERIES race team spearheaded by female automotive and motorsport executive Beth Paretta, has announced its entry for the 105th Running of the Indianapolis 500 presented by Gainbridge.

2010 Indianapolis 500 Rookie of the Year Simona De Silvestro has been announced as the driver for Paretta Autosport, which will utilize Chevrolet power and run the No. 16 for this year’s legendary “The Greatest Spectacle in Racing.” The 32-year-old from Switzerland is a veteran of five Indianapolis 500 starts.

The team is an extension of INDYCAR and the Indianapolis Motor Speedway’s “Race for Equality & Change” announced last July. Team Penske will provide technical support to Paretta Autosport in assisting in the preparation for competing in the race Sunday, May 30.

Paretta Autosport will integrate women in the team to ensure that it provides opportunities, including competition, operations and administrative roles such as logistics, marketing and public relations.

“Today is the beginning of a commitment to gender equity in sport, to encourage women to work hard so they can earn their seat at the table or spot on the grid,” Paretta Autosport Team Principal Beth Paretta said. “INDYCAR has been a leader and a welcoming place for women for many years because of the hard work of many women and men before us, but now we have a stronger commitment with INDYCAR’s ‘Race for Equality & Change’ to make sure opportunities continue in the future.

“Our team, along with our technical alliance with Team Penske, will work hard to give Simona the best car we can provide so she can achieve her best results. Competition drives us. The Indy 500 is the greatest race in the world, and one day soon we hope to have a woman’s face on the Borg-Warner Trophy.”

Said Mark Miles, president and CEO of Penske Entertainment Corp.: “We are pleased to welcome Beth and her Paretta Autosport team to INDYCAR this year. Her team’s addition to the INDYCAR ‘Race for Equality & Change’ program this year will ensure that INDYCAR and the Indianapolis 500 continues the legacy of having a female driver qualify for the 2021 Indy 500. Of course, it will be up to Simona and the team to qualify the car for the grid, but knowing Beth, I know that her team will be up for the task.”

Paretta has a long history as an automotive and motorsports executive in leadership roles with some of the most respected performance brands, including SRT (Street and Racing Technology) at FCA (Fiat Chrysler Automobiles), where she was the first female director to lead a performance brand and motorsports for an original equipment manufacturer. In that role, she led successful racing programs that earned three national championships: the NASCAR Cup Series championship for Dodge with Team Penske in 2012, the IMSA GTLM championship with the factory Viper GTS-R program in 2014, and the Trans Am championship with the Dodge Challenger TA2 in 2014. She is also a board member of the Motorsports Hall of Fame of America.

In addition to her Rookie of the Year honors in 2010, De Silvestro also captured the Tony Renna Firestone Rising Star Award for her 14th-place finish. Her accomplishments throughout the motorsports world are numerous after competing in Australian Supercars, as a Formula One development driver, in Formula E, the IMSA SportsCar Championship and, since 2019, as a factory driver for Porsche.

“I am very excited to have this incredible opportunity to return to Indianapolis and the Indy 500 with Paretta Autosport this year,” De Silvestro said. “My career really took off through my time competing in INDYCAR and the Indy 500, so returning to compete with Beth and her new team in alliance with Team Penske is a special and rare chance in my career. Being part of the goal of diversity and inclusion for everyone, and especially women in INDYCAR, and in motorsports in general, is very important to me and how I would like to see the future of racing. I want to thank the NTT INDYCAR SERIES for taking such an important leadership role in providing gender and overall diversity inclusion in motorsports.”