Today, it emerged that Snoop Dogg, a world-famous rapper, has invested in $2.5 billion (£1.94 billion) Klarna, a Swedish fintech company.
The rapper is famous for his various hits that include From that Chuuuch to da Palace, Ain’t Nuthin but a G Thang, and Gin & Juice. More lately, he has reinvented himself as an investor, playing a role in Casa Verde Capital, a specialist cannabis venture capital company.
Snoop was born Calvin Broadus. He said that the deal was part of his European investment strategy.
He stated: “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.”
As well as investing in the firm, Snoop will also be the face of one of its campaigns that will be called “Get Smoooth.” It aims to promote the benefits of using Klarna to eliminate friction when making payments.
Sebastian Siemiatkowski, the chief executive of Klarna, stated: “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 behaviour and is exceptional when it comes to branding and marketing.”
He said that the partnership “opens new doors to Klarna as we grow and develop as a company.”
Recently, Casa Verde, the cannabis venture capital firm of Snoop Dogg, invested $10 millio in Oxford Cannabinoid Technologies (OCT), a biopharmaceutical business that is based in the United Kingdom. Its other ventures include a VH1 cooking show with Martha Stewart that is called Martha & Snoop’s Potluck Dinner Party. He has also dabbled in directing, film directing, and acting.