Calvin Broadus better known as Snoop Dogg has invested in an online payments firm, Klarna.
Klarna, a Swedish based firm provides payment solutions for consumers and merchants. The company valued at $2.25 billion dollars in 2015, making it one of Europe’s largest fintech unicorns.
“I’ve been looking for an opportunity to expand my tech investment portfolio to Europe and seeing the way Klarna operates and how they challenge the status quo, I think it’s a match made in heaven. I’m very excited about this partnership,” Snoop Dogg said in a press release.
Klarna was founded in Sweden in 2005 and has expanded to 14 countries, with more than 100,000 merchants using its payment solutions for online and in-store purchases. It was valued at $2.25 billion (roughly Rs. 15,400 crores) in 2015 when a group of insiders sold shares privately, making it one of Europe’s tech unicorns, or private companies valued at more than $1 billion.
“Snoop is not only a rap legend, but also a successful businessman, with a genuine interest in tech, retail, and e-commerce. He has a great understanding of consumer behavior and is exceptional when it comes to branding and marketing,” Sebastian Siemiatkowski, Klarna’s CEO, said.
Snoop Dogg now become a minor share holder in the company and also marketing the product as a “smooth dogg” (a reference to Klarna’s ambition to enable “smoooth” payments).
Earlier Snoop Dogg formed venture firm Casa Verde Capital to invest in startups such as weed-delivery service Dutchie, and pharmaceutical company Oxford Cannabinoid Technologies etc.