Lolli Raises $8 Million to Expand Crypto Rewards Market
Leading bitcoin and cashback rewards platform, Lolli, has successfully closed an $8 million Series B funding round. The funding round was led by Bitkraft Ventures, with both new and returning investors participating.
New investors in the round include Sfermion, Ulta Beauty’s Prisma Ventures, Hypersphere Ventures, Rahul Pagidipati, 2 Punks Capital, MZ Web3 Fund, and others. Notable returning investors include Seven Seven Six, Pathfinder Ventures, Bain Capital Ventures, Serena Ventures, and more.
CEO and Founder of Lolli, Alex Adelman, expressed his excitement about the company’s growth, stating that they aim to bring bitcoin to more people through their gamified earning experiences.
Bitkraft Ventures Partner Carlos Pereira emphasized Lolli’s potential to transform how people earn, own, and understand digital assets. Alexis Ohanian, Founder of Seven Seven Six, highlighted Lolli’s role in driving mainstream bitcoin adoption.
The funding will support Lolli’s expansion plans, including offering its multi-currency rewards to enterprise partners and enhancing its Card Boost program. Since 2018, Lolli has partnered with over 25,000 stores and rewarded users with more than $10 million in bitcoin rewards and cashback benefits.
Hot Take: Lolli’s Funding Boost to Drive Crypto Rewards Market Expansion
With a fresh infusion of $8 million in Series B funding, Lolli is well positioned to continue improving upon and growing the cryptocurrency rewards sector. The funding round, led by Bitkraft Ventures, brings new investors onboard while securing commitments from previous backers.
By broadening its offerings to enterprise partners and enhancing its Card Boost program, Lolli aims to bring bitcoin to more people and drive mainstream adoption. This latest funding round demonstrates the confidence and belief in Lolli’s mission as a leading platform for earning, owning, and understanding digital assets.
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