Swedish fintech giant Klarna got an unlikely minority owner on Thursday in the form of American rapper Snoop Dogg, who will also front the company’s marketing campaign.
Forbes reports that the artist, whose real name is Calvin Broadus, will also change his name to Smoooth Dogg when he becomes the new face of Klarna’s “smoooth” concept – following in the footsteps of, among others, a video of a long-haired swimming dog which became a viral sensation when it launched.
— Snoop Dogg (@SnoopDogg) January 17, 2019
The value of the deal was not disclosed, but the rapper, who has previously invested in startups such as Californian marijuana delivery business Eaze, Reddit and trading app Robinhood, said he planned to continue to invest in a range of businesses in Europe.
“I’ve been doing business in Europe for years with fashion brands, telecommunication companies, and more,” he told Forbes. “I’ve endorsed them, advised them, and now I’m looking to invest in them. I plan to keep growing the portfolio, ya dig?”
Klarna CEO Sebastian Siemiatkowski told Forbes it all started when he and his team “were wondering who is the smoothest person alive, that was really the background of how the name Snoop Dogg popped up in our heads. When we started speaking to Snoop Dogg, he was very keen to learn more about the tech industry, fintech, all these things, so we connected very well.”
Founded by Siemiatkowski, Niklas Adalberth and Victor Jacobsson, the online payment company is valued to $2.5 billion and secured a banking licence in Sweden in 2017.