Rapper Snoop Dogg is the marketing face of Klarna. Previously, Snoop Dogg had been an early stage angel investor in a slew of startups including Reddit, Robinhood, a commission-free trading app and Eaze, a California-based marijuana delivery business. Revenues grew by a third in the first quarter, but after years of profitability Klarna lost 96 million Swedish crowns in the period as management prioritised growth.This round was joined by Commonwealth Bank of Australia , HMI Capital, Merian Chrysalis Investment Company, Första AP-Fonden, IPGL, IVP and funds and accounts managed by BlackRock.Klarna said it wanted to offer US consumers a simpler alternative to credit cards, while building up partnerships with merchants including rue21, ASOS, Lulus, Toms, Superdry , Sonos and Acne Studios. “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”, says Snoop Dogg. It’s no surprise that Snoop Dogg is investing in a business, the rapper has a history of investing in startups, but mainly concentrating on cannabis-related businesses. Its core products are interest-free in the US and UK markets, with merchants paying for its services.Embattled wealth giant AMP anticipates an underlying profit of below $150 million for the half-year, down from $309 million the year before.Numis acted as financial adviser and placement agent to Klarna.It had raised a total of $US775 million prior to the latest funding round, according to Crunchbase.WA taxpayers may be guaranteeing gold for Russian mobsters and tax cheats, warns a former police officer."Finally, transparency, technology and creativity will serve the consumer," Siemiatkowski said in a statement.Siemiatkowski told Reuters in April that Klarna was approaching a situation where it would consider a stock market listing but no formal decision has yet been taken.The company, which holds a banking licence, has 60 million end customers, serving 130,000 merchants and processing an estimated 1 million transactions per day.Klarna's biggest existing shareholders, including Sequoia and Bestseller, invested more than $US100 million earlier this year, setting the stage for this external round.A spokesman said that view remained unchanged, with a float one of a number of options open to the company.Klarna, founded in 2005 by chief executive Sebastian Siemiatkowski and partners, enables consumers to buy online without having to provide payment details to the merchant they are buying from.In January, US rapper Snoop Dogg also backed Klarna and took on a role as its marketing "face".The hemp product company has recently launched a face mask made from his Hemp Black technology, after pivoting from athleisure wear to PPE.The company, which employs 2500 people, says it has a 10 per cent share of the e-commerce market in northern Europe. The funding round was led by San Francisco-based Dragoneer Investment Group.Swedish online payments firm Klarna announced Tuesday that it has reached a $5.5 billion valuation following a $460 million funding round, making it Europe's largest private fintech company. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Klarna’s CEO Sebastian Siemiatkowski confirmed the partnership on Twitter and adds:Copyright © 2005-2020 Klarna Bank AB (publ). Instead, Klarna pays for the order, which is then dispatched. Rapper Snoop Dogg is the marketing face of Klarna. Sveavägen 46, 111 34 Stockholm. Calvin Broadus, has today become a minority shareholder in the company, which offers buy-now-pay-later services at … Tweet. Other participants included the Commonwealth Bank of Australia, HMI Capital LLC, Merian Chrysalis Investment Co. and Sweden’s AP1 state pension fund, …
Snoop Dogg will become Smoooth Dogg and the face of a major campaign called “Get Smoooth”, as well as Snoop Dogg becoming a minor shareholder in Klarna. Klarna announced a partnership with Snoop Dogg earlier this year, which saw the rapper invest in the company and feature in an advertising campaign … The investment made in Klarna, the fintech giant is not the first one out of the music business done by the U.S. rapper.