Lolli secures $8 million series B funding

Bitcoin and cashback rewards platform Lolli has successfully concluded an $8 million Series B funding round, with BITKRAFT Ventures leading the investment. The funding round features participation from notable investors, including Seven Seven Six, Prisma Ventures of Ulta Beauty, and Hypersphere Ventures, among others.

Founded in 2018, Lolli has become a prominent player in the space, providing Bitcoin or cashback rewards on everyday purchases at over 25,000 top stores, including Ulta Beauty, Groupon, and Users can earn up to 30% back, with an average of 7% back, and Lolli has facilitated over $10 million in Bitcoin rewards to date, in addition to cashback rewards.

Lolli plans to utilize the funds to expedite the adoption of Bitcoin through gamified reward experiences. The Series B funding includes a return commitment from Lolli’s earlier investors; showcasing continued support from Seven Seven Six, Founders Fund’s Pathfinder Ventures, Bain Capital Ventures, Serena Ventures, Michelle Phan, Logan Paul, Pir Granoff, MrBeast’s Night Media, and Animal Capital.

Alex Adelman stated

“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.”

BITKRAFT Ventures, the lead investor in the Series B round, expressed confidence in Lolli’s mission to drive crypto adoption through financial gamification and rewards. Carlos Pereira, a Partner at BITKRAFT Ventures, stated, “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.”

The funds raised will contribute to Lolli’s ongoing expansion plans, including introducing Lolli’s patented multi-currency rewards offering to enterprise partners such as neobanks, exchanges, payment companies, search engines, and card networks. This move will allow enterprise partners access to Lolli’s extensive rewards network of top retailers and Fortune 500 companies, enabling them to power their own branded rewards experiences with Lolli’s exclusive rewards offering.

Additionally, the funding will support the development of Lolli’s Card Boost program, launched in 2022, which enables shoppers to link any credit or debit card to earn Bitcoin and cashback rewards in-store.

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