Paid tha Cost to Be da Boss: Snoop Dogg invests in Swedish fintech unicorn Klarna
Rapper Snoop Dogg has invested in $2.5bn (£1.94bn) Swedish fintech company Klarna, it emerged today.
The rapper, famed for hits such as Gin & Juice, From tha Chuuuch to da Palace and Ain't Nuthin but a G Thang, has more lately reinvented himself as an investor, playing a role in specialist cannabis venture capital firm Casa Verde Capital.
Further reading: High times: The City gears up for a medicinal cannabis boom
Snoop, who was born Calvin Broadus, said the deal was part of his European investment strategy.
"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,” he said.
Here I am. Smoooth Dogg. This is a big project for me as an investor in Swedish payment provider @klarna. It's time we change the game. #getsmoooth https://t.co/rpQ1Ama4of pic.twitter.com/rkaiMZQyG6
— Snoop Dogg (@SnoopDogg) January 17, 2019
As well as investing in the company, Snoop will also be the face of a campaign, “Get Smoooth” which aims to promote the benefits of using Klarna to eliminate friction when making payments.
Klarna’s chief executive Sebastian Siemiatkowski said: “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 the partnership: “Opens new doors to Klarna as we grow and develop as a company.”
Snoop's cannabis venture capital firm Casa Verde recently invested $10m in UK biopharmaceutical business Oxford Cannabinoid Technologies (OCT).
Other ventures include a VH1 cooking show with Martha Stewart called Martha & Snoop's Potluck Dinner Party and he has also dabbled in acting, directing and film directing.