An important update on payouts

Hi everyone, Nicholas Martin here.

I want to address the recent payout issues directly. We know this has been frustrating, and I appreciate your patience while we work through it.

Sponsor Driven has now put new Anti-Money Laundering and sanctions compliance measures in place at the request of Stripe, our payment processor, to make sure we can continue supporting competitors properly and responsibly. Compliance with Stripe is essential for that financial support, and it is a key part of keeping the platform secure and sustainable for everyone involved.

Since we launched Sponsor Driven, competitors have raised over £30,000 in funding from businesses and individuals. Motorsport funding is becoming increasingly difficult, especially if you are new to the grid, so being able to ask your supporters to support you financially is an important part of what makes Sponsor Driven different to other sponsorship platforms, and that puts us in the “crowdfunding” category which requires more checks to stay compliant with Stripe.

As a result, some payouts have been paused while Stripe completes its review of Sponsor Driven as a crowdfunding platform. Once that review is finished, payouts will resume. We are in the final stages, so hopefully not much longer.

We are focused on doing this the right way, with the right checks in place, so we can keep backing competitors with confidence. Thank you for bearing with us and for continuing to support Sponsor Driven.