Earlier this month, Jay-Z was revealed to be one of the names behind a multi-million dollar investment in credit-building fintech Altro. But he is by no means the only famous face who has invested in fintechs.
Here, we round up five of the most significant – and surprising – celebrity fintech investors of the past decade…
Beyonce’s husband made his fortune in the music business, but he became a billionaire thanks to a series of savvy investments.
In 2019, he created Marcy Venture Partners (MVP), a venture capital firm with a remit to invest in “innovative businesses and mass-market brands…with an emphasis on positive impact including sustainability, inclusivity, accessibility, empowerment and health & wellness.”
Credit-building start-up Altro clearly met the brief, and raised a total of $18m (£14.42m) in a Series A funding round supported by MVP.
- Andy Murray
The tennis star joined the advisory board at crowdfunding platform Seedrs in 2015 and he has been an avid fintech fan ever since.
He has also been a regular investor in property lending platform (and former peer-to-peer lender) Landbay, and has previously invested in Revolut and Investly, among other fintech names.
- Baroness Michelle Mone
The lingerie titan and gossip mag staple announced that she would launch her own crypto-backed P2P platform way back in 2018. Baroness Mone even signed up Apple co-founder Steve Wozniak to the platform, which was to be called Equi.
However, four years later no further announcements have been made, and Companies House documents suggest at least one of the businesses set up at the same time has been dissolved and another is facing a strike-off action.
- A$AP Rocky
Last year, rapper A$AP Rocky was appointed chief executive of fintech giant Klarna – for one day only. He was later revealed to be an investor in the firm, and has appeared in a number of advertising campaigns for Klarna ever since.
The buy-now-pay-later pioneer has won a number of celebrity endorsements, with the likes of Snoop Dogg and Tan France advertising the brand over the years.
- Kim Kardashian
Kim K is just one of the many social influencers and celebrities who have had their knuckles rapped by the regulator for promoting cryptocurrency investments without fully explaining the risks. Kardashian was paid to promote the Ethereum Max cryptocurrency, alongside other famous faces such as boxer Floyd Mayweather Jr, and basketball player Paul Pierce.
The three are now being sued by investors for “misleadingly promoting and selling” the coin.
Celebrity crypto endorsements have become so commonplace that the Financial Conduct Authority has used Kardashian’s promotions as an example of what not to do, and pledged to crack down on the trend.