Kevin Durant, an American basketball player, and Mark Cuban, a US businessman and television producer, were the two most active Celebrity FinTech investors during the period 2019-2023 investing in eight companies each. Kevin Durant’s key investments over the period include: Goalsetter which is a mobile banking app that allows peer-to-peer transactions. Users can also put funds on banking cards for purchases. Secondly, Jeeves which provide open global business accounts, the ability to issue corporate cards, send cross-border payments, and manage company spend from one borderless platform. Finally, Titan which is an investment firm, open to everyone. The company is based in the New York and actively manage the wealth of nearly 50,000 clients across the US.
Mark Cuban’s key investments include: Prizeout which is an ad-tech company that works across the gaming, banking, crypto, gig economy, payroll & finance industries to turn withdrawals into a growth solution for e-commerce & retail businesses. Secondly, Yendo is the world’s first vehicle-secured, credit card. Yendo’s product is 95% cheaper than the non-bank financial products that Americans spend $45bn on each year. Lastly, Metromile offers pay-per-mile car insurance, licenses a digital insurance platform to insurance companies around the world, and provides a digitally native offering featuring smart driving features, automated claims, and vehicle information.
Interestingly some companies appear more than once such as Titan, Step and Public. This is due to companies specialising in pairing celebrities with startups. One company like this is My entertainment consulting company which specializes in assisting startups by connecting them with celebrities to serve as partners and investors. They’ve achieved success by pairing notable figures like Kerry Washington with Byte, Olivia Culpo with VIDE, and Noah Schnapp with TBH. These partnerships not only bring celebrity endorsement but also involve significant investments into the brands, showcasing the company’s effectiveness in bridging the gap between entertainment and entrepreneurship.
Celebrities and influencers are increasingly becoming involved in venture capital, using their private funds to invest in startups. This trend showcases a shift from merely being the face of companies to actively participating in their growth and success. For example, actor Noah Schnapp has been expanding his investment portfolio by supporting startups like Pearpop, which connects TikTok users with celebrities for collaborations. Similarly, influencer Josh Richards has transitioned from angel investing to becoming a venture partner at Remus Capital, leveraging his social media influence to drive growth for various companies. These celebrity and influencer investments highlight the significant impact they can have in the realm of capital investments.
