Snoop Dogg invests in Swedish fintech giant Klarna

Snoop Dogg invests in Swedish fintech giant Klarna

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U.S. rapper and international pop icon, Snoop Dogg, whose real name is Calvin Broadus has invested in Klarna, a Swedish fintech startup. The American rapper Snoop Dogg aka Calvin Broadus has become a minority shareholder in Klarna that provides buy-now-pay-later services across 100,000 retailers in both Europe and the U.S.

The exact amount involved in the deal is yet to be disclosed. But the rapper will become the face of the Swedish company’s latest marketing campaign named Smoooth Dogg. The campaign indicates that Klarna’s products will make daily life easier and smoother, be it for a consumer or a merchant. After this campaign, Klarna and Snoop Dogg will announce the next step.

Previous investments

The investment made in Klarna, the fintech giant is not the first one out of the music business done by the U.S. rapper. Previously, Snoop Dogg had been an early stage angel investor in a slew of startups including Reddit, Robinhood, a commission-free trading app and Eaze, a California-based marijuana delivery business.

Regarding this investment, the rapper said, “I’ve been looking for opportunities to expand my portfolio of investments in technology to Europe. When I look at how Klarna operates and challenging the status quo, it is a match made in heaven. I am very excited about this partnership.”

Smoooth Dogg campaign

In the meantime, a video ad has been uploaded to Klarna’s official YouTube channel showing the rapper alongside a set of bling emblazoned with the name Smoooth Dog.

Valued at $2.25 billion

Klarna was founded in 2005 in Stockholm to bring a revolution to the payment services. As of now, it operates in 14 countries and is backed by investors such as Permira, MasterCard, Atomico, Bestseller Group and Sequoia Capital. Back in 2015, Klarna was valued at $2.25 billion by investors. This made it one of the largest private fintech unicorns in Europe to be valued over $1 billion. It considers Adyen, PayPal and Square as its rivals.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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