Snoop Dogg becomes a shareholder in Klarna

Swedish financial tech firm Klarna has confirmed that American rapper, Snoop Dogg, aka Calvin Broadus, has become a minor shareholder in the company, which offers retailers including Asos and Missguided buy-now-pay-later services.

“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,” said Sebastian Siemiatkowski, chief executive of Klarna in a statement. “Teaming up with one of the smooothest persons alive, opens new doors to Klarna as we grow and develop as a company.”

The size of Broadus’ investment has not been disclosed, just that the action was part of his European investment strategy, added the statement, and that he will acquire his shares from an existing Klarna shareholder. He joins other backers including Sequoia Capital, Bestseller Group, Atomico, Visa and Permira.

Commenting on his investment, Broadus added: "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.”

Klarna launches new global campaign with Snoop Dogg, as he becomes a minority shareholder

As well as taking a stake in the company, Snoop Dogg is fronting a new global campaign, ‘Get Smoooth’, where the rapper is transformed into Smoooth Dogg and can be seen in adverts partying in a mansion, spreading gold peanut butter, as well as relaxing on a silk bed and lounging on a sofa alongside Afghan Hounds.

Klarna states that the concept centres around the tech firms promise of being ‘smooth’ by removing friction from the world of pay later payments by making everyday life easier for consumers and retailers.

This marks the first of many collaborations with Snoop Dogg added Klarna, the next step it said will be presenting a range of “unique items enabling anyone to Get Smoooth”, with full details to be revealed at a later date.

Klarna is Europe’s leading payments provider and a newly-licensed bank, and its aim is to revolutionise the payment experience for shoppers and merchants by offering various payment options to pay later. The finance firm works with 100,000 retailers in Europe and across the US and is active in 14 countries.

Images: courtesy of Klarna