About E1.
E1 is the world’s first and only all-electric raceboat Championship. The UIM E1 World Championship presented by PIF was established to create a new, exciting and competitive on-water racing Championship using electric technologies to focus efforts on innovations that help protect and restore our urban waters and coastal areas.
The Championship sees teams featuring both a male and female pilot. Racing on the water in iconic cities around the world including Jeddah, Doha, Monaco, and Miami, teams are owned by some of the biggest names on the planet. These already include LeBron James, Will Smith, Marc Anthony and Steve Aoki from the world of entertainment, Rafael Nadal, Tom Brady, Virat Kohli and Didier Drogba from the world of sport and Marcelo Claure from the world of business.
The challenge: managing global payments, scale and currency volatility.
Operating a global championship creates constant financial complexity. Each race requires payments to a wide network of local suppliers like catering, security, logistics and equipment providers — often under tight timelines.
E1 was making international transfers through a traditional bank, but it created uncertainty for the finance team. Payments could also be slow or unpredictable, which added pressure when preparing for major race events.
“Before each race, we need to pay local suppliers fast; from catering and security to equipment logistics. With our previous bank, transfers were often slow and unpredictable.”
Currency volatility also added another layer of risk. While many of the organisation’s operating costs are in British pounds, partner payments often arrive in euros or US dollars. Even small movements in exchange rates can have a noticeable impact on budgets and profitability.
“Currency volatility is a real challenge for us. Most of our overheads are in sterling, while the majority of our partners pay in euros or US dollars. With £/€ shifting 3–5%, that kind of movement can have a big impact on our bottom line.”
The solution: bringing speed and structure to international payments.
To better manage global payments and currency risk, E1 partnered with OFX.
Using the OFX platform, funds can be moved quickly and securely to suppliers around the world — ensuring each race can be prepared without delays.
“With OFX, we can now move money quickly and securely — whether it’s to Miami, Monaco, Jeddah, or beyond.”
Beyond payments, OFX also helps E1 manage currency risk and exposure through a structured FX strategy that is tailored to its race calendar and international operations. “Working with OFX…we’ve built an FX risk strategy that helps protect our profits and keeps us ‘race-ready’.”
The platform provides greater control and visibility for the finance team, while simplifying day-to-day operations.
“And with the OFX platform it’s even easier. It’s simple, intuitive, saves us time, and gives us full visibility of all our payments… including booking a Digital Forward online.”
Around-the-clock support also helps the team operate across global time zones with confidence. As Mr Alli says, “24/7 support gives us peace of mind, especially when working across time zones.”
Why OFX was the clear choice.
E1’s finance team chose OFX because it offered speed, security, and control. Exactly what a global sporting championship needs.
- Fast, reliable global payments: “With OFX, we can now move money quickly and securely — whether it’s to Miami, Monaco, Jeddah, or beyond.”
- Reduced currency risk: “Working with OFX, we’ve built an FX risk strategy that helps protect our profits and keeps us ‘race-ready’.”
- User-friendly platform: “The OFX platform is simple and intuitive. It saves us time and gives us full visibility of all our payments… including booking a Digital Forward online.”
- 24/7 support across time zones: “24/7 support gives us peace of mind, especially when working across time zones.”
By combining these benefits, OFX gave E1 the confidence to manage payments and currency exposure efficiently, no matter where races take place.
Faster payments. Smoother race operations.
With a global race calendar and partners across multiple markets, E1 requires a solution for global payments and FX that can keep pace with the speed of international sport.
By working with OFX, the finance team has gained faster global payments, improved visibility and a more structured approach to managing currency risk — helping ensure each race runs smoothly from a financial perspective.
As Mr Alli puts it:
“At E1, we move fast. With OFX, our payments move even faster.”
See why OFX was the right choice for E1.
Hear about their experience and choice to go with OFX, directly from E1’s Finance Director, Adrian Alli.
Want your global payments moving at ‘race speed’?