Lolli Raises $8 Million to Expand Bitcoin Rewards Program
According to a report by TechCrunch, Lolli, a popular Bitcoin (BTC) and cashback rewards application, has successfully raised $8 million in a Series B funding round. The investment, led by BITKRAFT Ventures, will enable Lolli to expand its rewards program to enterprise partners such as exchanges, neobanks, banks, payment companies, and browsers.
Lolli’s Bitcoin Rewards App Flourishes
Lolli has experienced significant growth since its launch in 2018, forming partnerships with over 25,000 stores. The application allows users to earn Bitcoin or cashback when making purchases online or at physical retail establishments. Lolli aims to expand its network to over 100,000 participating stores by 2025.
Alex Adelman, co-founder and CEO of Lolli, expressed the company’s commitment to operational efficiency and proving the business model. One of Lolli’s key features is Card Boosts, which allows users to add BTC rewards to their debit or credit cards. This offering has contributed to a significant increase in active shoppers.
BTC’s Surge Benefits Lolli Users
Lolli’s users have benefitted from Bitcoin’s volatility as the value of their earned rewards has appreciated over time. Adelman noted that early Lolli users who earned Bitcoin when it was around $3,000 have seen their rewards increase in worth by more than 10X today. With BTC currently valued at over $42,000, the company anticipates continued value appreciation for its users.
Plans for the Future
Lolli plans to capitalize on the growing crypto adoption and positive momentum in the markets. The company intends to introduce new features, forge significant partnerships, and enhance financial education offerings in 2024. Adelman emphasized the company’s mission to become a comprehensive platform for users to earn money multiple times a day, learn about Bitcoin, and participate in the ongoing crypto revolution.
Driving Mainstream Adoption
By expanding into enterprise partnerships, Lolli aims to drive broader adoption of cryptocurrencies. Enabling major corporations and financial institutions to offer Bitcoin rewards will contribute to the growing demand for BTC rewards and bring cryptocurrencies closer to mainstream acceptance.
Hot Take: Lolli Raises $8 Million in Series B Funding to Expand Bitcoin Rewards Program
Lolli, a popular Bitcoin rewards application, has successfully raised $8 million in a Series B funding round led by BITKRAFT Ventures. This investment will allow Lolli to expand its rewards program to enterprise partners and further grow its network of participating stores. With the value of Bitcoin rewards appreciating over time, Lolli users have benefitted from BTC’s surge. Looking ahead, Lolli plans to introduce new features, forge partnerships, and enhance financial education offerings. By expanding into enterprise partnerships, Lolli aims to drive mainstream adoption of cryptocurrencies. Overall, this funding round marks an important step for Lolli as it continues to revolutionize the way people earn and use Bitcoin rewards.
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