Canyon-SRAM have confirmed that Scalable Capital, a European bank founded in 2014, have joined the team as a new sponsor.
The logo has been visible on the sides of riders' helmets and on team vehicles taking part in the ongoing Tour de France Femmes.
In a team press release, Scalable Capital is described as "one of Europe’s leading digital banks and investment platforms." It has around 800 employees.
“Having Scalable Capital join Canyon-SRAM is a strong statement for women’s cycling", the team's commercial director Jonas Moslein said in the same statement.
"Beyond the commercial opportunity, we share a common ambition to break down barriers, empower women and inspire the next generation. We firmly believe this partnership has the potential to create a lasting impact far beyond racing.”
Canyon-SRAM said Scalable Capital will be sponsoring both the WorldTour and its 'Generation squad,' its 10-rider Devo' team.
The new sponsorship comes just a few months after Canyon-SRAM terminated its sponsorship with title backer Zondacrypto with immediate effect.
The team cited 'breaches of contract' as the reason for the sudden, mid-season parting of ways with the Polish cryptocurrency company, without providing further details.
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