A$AP Rocky told the world in his GQ interview that he was still rocking with Sweden.
Well, his latest move is proof positive that his unfortunate 2019 incarceration hasn’t turned him off at all.
The Harlem rapper will be joining fellow rap star Snoop Dogg in an investment cohort to the Swedish company, Klarna.
Klarna is an updated version of your momma’s lay-a-way and auntie’s Rent-A-Center plan. The difference is programs like this, Afterpay and PayPal, potentially helps with the individual shopper’s credit.
A$AP Rocky becomes the latest investor in the $31 billion fintech platform Klarna https://t.co/JIXSTcHbvU #ForbesUnder30 pic.twitter.com/3wYZk6fIJr
— Forbes (@Forbes) June 1, 2021
A$AP Rocky, whose real name is Rakim Mayers, said, “Klarna is a company that looks ahead and challenges the status quo.”
“It’s a radical way to approach the crediting system,” he also notes. “It helps people with financial literacy.”
To seal the deal, he will become the chief executive of the company for a day.
Even without Rocky’s participation in the brand, Klarna is increasingly popular with online consumers. In fact, Klarna released numbers that revealed that there are 17 million Americans actively using the service to buy stuff.
That’s double since last year. App downloads in the United States alone have shot up 125%.
Forbes reports that the company makes its money “from charging merchant fees between 3 and 7%, revenue grew 37% from 2019 to 2020.”
It is further reported that Klarna has made nearly $19 billion in the first quarter of 2021 and has more than 90 million active global users. The company averages 2 million transactions per day with over 250,000 merchants or stores.
And Reuters stated that the fintech company (currently valued at $31 billion) may shoot up even higher after this most recent round of funding to a value of $50 billion.
Welp … that’s enough to change any bad thoughts about the Swedish.