ASAP Rocky Joins Klarna as Investor, Will Serve as CEO for a Day

ASAP Rocky, whose Morrissey-featuring new album All Smiles is expected to arrive soon, has become an investor in the Swedish fintech company Klarna.

On Tuesday, the global payments provider and showing service announced that Rocky had become a shareholder and—for one day only—would take on the role of CEO.

“ASAP Rocky defies categorization; a musician, actor, philanthropist, an opinion leader in style, and fundamentally someone who understands what the public wants from so many vantage points,” Sebastian Siemiatkowski, Klarna co-founder and CEO, said in a press release. “He challenges the status quo each day. As the consumer experience in retail now demands discovery, curation and sustainability, we at Klarna have a lot to learn from him. Besides, after sixteen years since founding Klarna, I think I deserve a day off.”

As part of his short-term CEO duties, Rocky will “renounce the global fashion hibernation” that dominated 2020 while inviting everyone to “rediscover the joy of getting dressed.” To support this aim, Rocky will be curating exclusive content within the Klarna shopping app, with a focus on vintage and upcycling.

The Testing artist will also join Klarna’s GiveOne sustainability initiative by pledging one percent of his investment toward climate and biodiversity projects. Specifically, Rocky has selected the Miti Alliance in Kenya and its founder Michael Waiyaki, who is working to slow the impact of deforestation-spurred climate change.

“Klarna is a company that looks ahead and challenges the status quo, which makes partnering with them so appealing to me,” Rocky said Tuesday. “I’m excited to begin working with Klarna in a number of ways, including jointly creating a space for people to rediscover style as we emerge from a global fashion hibernation.”

In late May, CNBC reported that Klarna was close to locking down a new funding round with a valuation of more than $40 billion. As has been widely reported, Klarna and other buy-now-pay-later services experienced a surge in demand due in part to the pandemic.

Rocky, meanwhile, is fresh off being announced as one of the artists assembled for the impending F9 soundtrack. The recent GQ cover star also has a number of 2021 festival appearances on the books, including at the Lyrical Lemonade Summer Smash in Chicago with fellow headliners Lil Uzi Vert and Lil Baby.