Lolli secured a fresh round of funding from new and previous investors to accelerate bitcoin adoption through gamified rewards.
WHO: Founded in 2018, Lolli is the first bitcoin rewards application that lets people earn bitcoin and cash back when they shop in-store and online at 25,000+ top stores. Lolli was created with the goal of making it easy to earn, own, and share bitcoin with as many people as possible. The company believes in bitcoin as a global alternative currency and universal store of value and wants to share it with the world. The app gives up to 30% back on purchases, with an average of 7% back in bitcoin or cashback rewards.
WHY: The fresh round of funding will contribute to the ongoing expansion of the company, which will include bringing Lolli’s patented multi-currency rewards offering to enterprise partners including neobanks, exchanges, payment companies, search engines, and card networks. Lolli’s enterprise partners will gain access to Lolli’s extensive rewards network of top retailers and Fortune 500 companies, with the ability to power their own branded rewards experiences with Lolli’s exclusive rewards offering. The funding round will also contribute to the ongoing development of Lolli’s Card Boost program, which launched in 2022 and allows shoppers to link any credit or debit card to earn bitcoin and cashback rewards in-store.
IN THEIR OWN WORDS: Alex Adelman, CEO and founder of Lolli, said, "We are thrilled to announce this fundraise as we enter this next phase of growth at Lolli. As bitcoin’s price continues to surge and Lolli users’ rewards go up in value, we look forward to using this ongoing period of growth and excitement in the ecosystem to bring bitcoin to even more people through gamified earning experiences. We remain committed to building an industry-leading product and the best way for people to learn about and own crypto with Lolli.”
Carlos Pereira, Partner at Bitkraft Ventures, said, "At Bitkraft, we are firm believers in Lolli’s mission to leverage financial gamification and rewards to accelerate crypto adoption. We look forward to working with Lolli to help drive Lolli’s continued growth as a leading onramp into crypto. With its engaging user experience, extensive merchant partnerships, and industry-leading technology, Lolli is uniquely positioned to transform how people earn, own, and understand digital assets.”
Alexis Ohanian, founder of Seven Seven Six and investor, said, "Seven Seven Six is excited to remain a part of Lolli's mission to democratize access to bitcoin through rewards. Lolli has played a powerful role in driving mainstream adoption, particularly for first-time bitcoin owners, and we see tremendous opportunities ahead for Lolli as a way for people to better understand and own sound money. By integrating into users’ shopping habits to provide free bitcoin, Lolli has created a unique solution as an easy, low-risk way to get bitcoin.”
Investor and beauty entrepreneur Michelle Phan said, "Starting your journey of learning about and owning bitcoin can be intimidating. That’s why Lolli’s solution is so revolutionary as an entry point into bitcoin. With Lolli, shoppers simply make the purchases they were going to make anyway to earn rewards. You can get your first piece of a bitcoin just by buying makeup, booking travel, or getting coffee. As an early investor in Lolli, I look forward to continuing to see the Lolli team execute on its mission to bring more people into bitcoin for the first time and gain a better understanding of money.”
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