Bitcoin Rewards Platform Lolli Wraps Up $8 Million Series B Funding Round

Lolli, the pioneering Bitcoin and cashback rewards provider, has secured $8 million in Series B funding to fuel its expansion into enterprise partnerships.

Led by BITKRAFT Ventures, the round saw a large number of investors participate, including Sfermion, Prisma Ventures from Ulta Beauty, Hypersphere Ventures, and notable individuals like Rahul Pagidipati and Michelle Phan.

The funding marks an essential milestone for Lolli, founded in 2018 by Chief Executive Officer (CEO) Alex Adelman, as it strives to introduce its innovative rewards program to enterprise partners like exchanges, neobanks, banks, payment companies, and browsers. This action is in line with Lolli’s goal of increasing Bitcoin accessibility by utilizing gamified earning opportunities.

Adelman claims that Lolli has taken a calculated approach to fundraising, hoping to obtain precisely the correct amount of funding required for every stage of the company’s expansion. With an emphasis on providing its business model and operational effectiveness, the company has raised approximately $28 million to date.

With more than 25,000 partner retailers in its constantly growing network, Lolli offers consumers the chance to earn Bitcoin or cashback on everyday purchases. The number of active shoppers on the platform increased significantly as of October, indicating a notable increase of more than 35% year over year and a notable expansion in its user base.

One of Lolli’s major breakthroughs is Card Boosts, a feature that lets customers connect Bitcoin incentives to their debit or credit cards for increased earning potential. People who use this product regularly earn incentives that are more than five times what they would have otherwise, which has greatly increased user engagement.

The value of incentives received by Lolli users has increased significantly, and this can be attributed to the ongoing rising trend in Bitcoin prices. It has been especially noticeable for participants who entered the program when Bitcoin prices were lower to see this exponential surge in rewards worth. The awards that early adopters received have significantly increased in value as Bitcoin’s value keeps rising, making them an attractive inducement to stay involved and participate in the program.

In the future, Lolli hopes to take advantage of market momentum to increase revenue for partners and attract major companies to offer Bitcoin rewards. To support its users’ comprehensive earning experience, the company intends to launch new products, establish valuable partnerships, and provide financial education programs first priority.

BITKRAFT Ventures, one of the lead investors in Lolli’s Series B round, expresses confidence in Lolli’s mission to accelerate crypto adoption through financial gamification. With its engaging user experience, extensive merchant partnerships, and innovative technology, Lolli is poised to revolutionize the way people earn, own, and understand digital assets.

Lolli’s recent successful funding round underscores its steadfast commitment to advancing the utilization and embrace of Bitcoin within the retail landscape. Through its inventive features, strategic partnerships, and loyal community, Lolli is playing a pivotal role in facilitating the broader adoption of cryptocurrencies within the retail sector. This funding injection further solidifies Lolli’s position as a trailblazer in integrating digital assets into everyday transactions, ultimately shaping the future of commerce.