Bitcoin rewards platform Lolli closes $8 million Series B funding round
Lolli, a leading Bitcoin and cashback rewards platform, today announced that it has successfully closed an $8 million Series B funding round, according to a press release sent to Bitcoin Magazine. The investment was led by BITKRAFT Ventures with notable contributions from Sfermion, Ulta Beauty’s Prisma Ventures, Hypersphere Ventures, Rahul Pagidipati, 2 Punks Capital, and MZ Web3 Fund.
“We are thrilled to announce this fundraising as we enter Lolli’s next phase of growth,” said Alex Adelman, CEO and founder of Lolli. “As the price of Bitcoin continues to surge and the value of rewards for Lolli users increases, we look forward to leveraging this continued period of growth and excitement in the ecosystem to bring Bitcoin to more people through gamified earning experiences. . We are committed to building industry-leading products and creating the best way for people to learn about and own cryptocurrency with Lolli. ”
The funding round also returned commitments from early investors, including Seven Seven Six, Founders Fund’s Pathfinder Ventures, Bain Capital Ventures, Serena Williams’ Serena Ventures, Michelle Phan, Logan Paul, Pir Granoff, MrBeast’s Night Media and Animal Capital.
“At BITKRAFT, we strongly believe in Lolli’s mission to accelerate cryptocurrency adoption by leveraging financial gamification and rewards,” said Carlos Pereira, Partner at BITKRAFT Ventures. “We look forward to working with Lolli to help them continue to grow as a leader in the cryptocurrency space. “With a compelling user experience, extensive merchant partnerships, and industry-leading technology, Lolli is uniquely positioned to transform the way people acquire, own, and understand digital assets.”
The funding will further accelerate Lolli’s expansion plans, particularly the introduction of its patented multi-currency rewards system to corporate partners such as neobanks, exchanges, payments companies, search engines and card networks. Lolli aims to expand its rewards offerings to its corporate partners, enabling them to create personalized branded rewards experiences for their users.
Founded in 2018, Lolli facilitates Bitcoin and cashback rewards for everyday purchases at over 25,000 top retailers. According to the release, users can access these rewards through the Lolli mobile app, website or browser extension and earn up to 30% back, with an average of 7%. To date, Lolli users have collected over $10 million in Bitcoin rewards.
