23XI Racing Welcomes Robinhood To Nascar With Bubba Wallace, Corey Heim

Forbes

01-04-2025

Bubba Wallace, driver of the No. 23 McDonald's Toyota, walks the grid during practice for the Nascar ... More Cup Series Cook Out 400 at Martinsville Speedway on March 29, 2025 in Martinsville, Virginia. (Photo by)
Bubba Wallace and 23XI Racing have inked yet another new partnership, welcoming Robinhood to Nascar for the first time. The financial services firm will be featured on Wallace's No. 23 Toyota in two races, along with a pair of Cup Series events for top prospect Corey Heim.
Wallace flew into New York City for the announcement on Tuesday, showing the importance of bringing a new company into Nascar. Among the stops for the 23XI Racing driver was a "CBS Mornings" appearance, along with closing the bell on Wall Street.
'We hadn't really done much in sports,' Steve Quirk, chief brokerage officer at Robinhood, said. 'We had been attending Daytona with vendors and customers for five or six years. Our customers have a strong interest in motor sports. This was an opportunity for us to have our first national sponsorship. We love the team and this young man [Wallace]
Quirk said previously, Robinhood's sports partnerships focused on working with the Miami Heat, the Memphis Grizzlies and the Washington Wizzards – each at separate times.
The Robinhood sponsorship was also boosted by internal research conducted by Robinhood. The data team discovered that Robinhood users are four times more likely to be Nascar fans than those who use other financial apps.
For Wallace, the sponsorship is a sign of his growing popularity inside and out of Nascar.
'Having a fresh face and partner in this sport is not only beneficial for our team, but for the sport as a whole,' Wallace said. 'It shows growth for all of us. You are provided an opportunity and you put yourself in the right situation. You make the most of it. People start to see the results and people want to be part of the journey with you. It's a very humbling experience. It's more motivational for us.'
Wallace will sport a neon Toyota Camry in the two races that Robinhood will sponsor to make the Robin Neon logo. Robinhood's first race as a primary sponsor will be with Heim's No. 67 car at Kansas Speedway in May.
'If you look at the Robinhood customer base, it's really young,' Quirk said. 'Robinhood has done a masterful job at opening up financial services to young, first-time investors. Investing in a young team that's data-driven and having success is a complete alignment.'
The Robinhood team will evaluate the data it receives from its Nascar partnership to determine how it will move forward with 23XI Racing following its first four races. However, the firm believes it can be a long-term relationship.
Heim is currently competing for the Craftsman Truck Series title and is running a partial Xfinity and Cup Series schedule.
Wallace is coming off back-to-back third-place finishes and sits eighth in the regular season standings after seven races.