After a long-standing career in Formula One, Rubens Barrichello is now setting his sights on the technology sector. Over the next year, the Brazilian racing driver will use his reputation to enhance the Latin American presence of Softswiss, a company providing tech infrastructure for the online gambling sector.
Online gambling is a growing market in Brazil. A study by investment firm XP estimates that the segment grossed around BRL 120 billion ($21 billion) in 2023, an increase of 71% compared to 2020. Cognizant of the opportunity, Softswiss, which focuses on iGaming – a term that encompasses online gambling and other interactive gaming activities – enlisted Barrichello to support its expansion in Latin markets, starting with Brazil.
A non-executive director at the technology company since April, Barrichello competed in Formula One from 1993 to 2011. His career includes a tenure with Ferrari as Michael Schumacher’s teammate from 2000 to 2005, as well as 11 Grand Prix victories and 68 podium finishes. Post-Formula One, he transitioned into StockCar racing, as well as media and business ventures, including his YouTube channel Acelerados, one of the largest Brazilian communities focused on motorsports and racing.
The racing driver turned entrepreneur sees parallels between the technology used in Formula 1 racing and the online gambling industry. “I was skilled at interpreting the data from the car’s sensors and computers during my time in F1, and I see similarities with the data-driven nature of the iGaming industry,” he told Forbes in an exclusive interview.
“I believe there is a lot of potential for iGaming in Brazil, but [in terms of development] the local market is nowhere near places like Europe, for example”, Barrichello noted. While specifics on the financial arrangements between the racing driver and Softswiss have not been disclosed, Barrichello has not taken a stake in the tech company.
Conversely, the tech company is placing its bets on working with the racing driver due to several factors: “Not only does Rubens want to delve deeper into the technology side of things, but he also has great business skills and contacts globally, and an ability to connect with people from different cultures – and this is a unique combination of skills that our company needs”, said Ivan Montik, founder at Softswiss.
