Lolli Secures $8M in Series B Funding to Boost Crypto Adoption Through Innovative Rewards System

With a caller infusion of $8 cardinal successful Series B funding, Lolli aims to beryllium good positioned to proceed improving upon and increasing the cryptocurrency rewards sector.

Lolli Secures $8 Million for Crypto Rewards Market Expansion

Lolli, a salient subordinate successful the bitcoin and cashback rewards arena, contiguous announced the palmy closure of an $8 cardinal Series B backing round. The circular was led by Bitkraft Ventures, with notable information from a premix of caller and returning investors.

This latest backing circular saw contributions from a divers radical of caller investors, including Sfermion, Ulta Beauty’s Prisma Ventures, Hypersphere Ventures, Rahul Pagidipati, 2 Punks Capital, MZ Web3 Fund, and others. The rise besides secured renewed commitments from erstwhile backers specified arsenic Alexis Ohanian’s 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.

Alex Adelman, CEO and Founder of Lolli, expressed excitement astir the caller signifier of maturation for the company, noting: “As bitcoin’s terms continues to surge and Lolli users’ rewards summation successful value, we look guardant to leveraging this play of maturation and excitement successful the ecosystem to bring bitcoin to much radical done our gamified earning experiences.”

Carlos Pereira, Partner astatine Bitkraft Ventures, emphasized his firm’s content successful Lolli’s mission: “We look guardant to moving with Lolli to assistance thrust its continued maturation arsenic a starring onramp into crypto. With its engaging idiosyncratic experience, extended merchant partnerships, and industry-leading technology, Lolli is uniquely positioned to alteration however radical earn, own, and recognize integer assets.”

Alexis Ohanian, Founder of Seven Seven Six, besides reiterated his support, highlighting Lolli’s relation successful driving mainstream bitcoin adoption, peculiarly for first-time bitcoin owners. He noted the imaginable opportunities up for Lolli arsenic a instrumentality for radical to recognize and ain dependable money.

The influx of funds is acceptable to substance Lolli’s enlargement plans, including broadening its patented multi-currency rewards offering to endeavor partners similar neobanks, exchanges, outgo companies, hunt engines, and paper networks. Lolli’s endeavor partners basal to summation entree to its rewards web of retailers and Fortune 500 companies, enabling them to connection their ain branded rewards experiences utilizing Lolli’s exclusive offerings.

Additionally, the backing volition heighten Lolli’s Card Boost program, launched successful 2022, which allows shoppers to nexus immoderate recognition oregon debit paper to gain bitcoin and cashback rewards in-store.

Since its inception successful 2018, Lolli has made strides successful the rewards space, partnering with implicit 25,000 stores including Ulta Beauty, Groupon, and Booking.com. Its level has rewarded users with much than $10 cardinal successful bitcoin rewards, alongside cashback benefits.

Do you deliberation crypto rewards systems are important to turn entree to bitcoin and different cryptocurrencies? Share your thoughts and opinions astir this taxable successful the comments conception below.