Lolli Closes $10M Series A Funding Round Led By Acrew Capital and Top Influencers Including Logan Paul, Chantel Jeffries, and Sway House Creators
The investment will contribute to hiring, international expansion, and mobile app development.
New York, NY — July 28, 2021 — Lolli, the leading bitcoin rewards company, today announced the close of a $10 million Series A financing round led by early Chime backer, Acrew Capital. Acrew is joined by Banana Capital, Up North Management, and Animal Capital, the Gen. Z-focused venture capital fund founded by social media stars Josh Richards, Griffin Johnson, and Noah Beck. The funding round includes investments from influencers and entrepreneurs such as Logan Paul, Chantel Jeffries, Lauren Riihimaki of LaurDIY, Kenny Beecham, and Baron Davis.
Additionally, the raise includes a recommitment from many of Lolli’s early investors, including Alexis Ohanian’s Seven Seven Six, 3K VC, Gabriel Leydon, and Forerunner Ventures.
The financing will contribute to the expansion of the company, hiring, new partnerships, and further development of the recently launched mobile app.
CEO and Co-founder of Lolli, Alex Adelman said:
We’re thrilled by the support of so many incredible investors and fellow entrepreneurs who believe in our mission of making bitcoin more accessible for all. We believe it’s imperative to align with top creators to both educate, distribute, and amplify the power of bitcoin to the masses.”
CTO and Co-founder of Lolli, Matt Senter, added:
Acrew's sizable bet on Lolli says two things: bitcoin business is booming, and as the original bitcoin rewards platform, Lolli has the best team to increase adoption in the long run."
Co-founder and Managing Partner at Acrew Capital, Lauren Kolodny said:
Lolli is democratizing access to bitcoin in a way that is truly revolutionary. We’re excited to support the company in its mission to make bitcoin as widely accessible as possible – with rewards as its initial seamless path to consumer adoption. This low barrier and low risk point of entry makes bitcoin adoption much more accessible to a broader demographic of people."
YouTuber and entrepreneur, Logan Paul said:
Lolli is leading the way to mainstreaming Bitcoin and making it accessible to the general public. I’m thrilled to be investing and helping to fuel the growth of a company that allows users to earn and learn about this new asset class.”
Animal Capital Co-founder, Josh Richards said:
Investing in Lolli is an exciting opportunity to bring bitcoin adoption to millions of people. Lolli has created a frictionless avenue into bitcoin adoption and has successfully made earning bitcoin fun, accessible, and simple. At Animal Capital, we believe in companies that are meeting modern users where they are – by bringing opportunities to invest in bitcoin to shoppers of all ages, Lolli is poised to transform the way that people, especially young shoppers, think about investing.”
Lauren Riihimaki of LaurDIY said:
I’m so excited to announce my investment in Lolli. Taking the first steps into the world of crypto and bitcoin can be daunting, and I truly believe Lolli is changing the game in how bitcoin can be earned. What’s better than online shopping? Online shopping while getting free bitcoin back.”
Founded in 2018 by Matt Senter and Alex Adelman, Lolli makes bitcoin accessible to all by offering bitcoin rewards to shoppers on everyday purchases. Lolli recently released its full mobile shopping app experience, allowing users to earn bitcoin when they shop from the palm of their hands. Shoppers can use Lolli’s mobile app or browser extension to earn bitcoin at more than 1,000 top retailers including Kroger, Microsoft, and Booking.com.
Lolli users have earned more than $3.5 million in bitcoin rewards to date.
Alex Adelman and Matt Senter are available for interview.
About Lolli Inc:
Lolli is the first bitcoin rewards application that allows people to earn and own bitcoin when they shop online. Lolli has partnered with 1,000+ top brands and merchants including Priceline, Sephora, and Macy’s. Lolli was created with the goal of making it easy to earn, own, and share bitcoin with as many people as possible. The company believes in bitcoin as a global alternative currency and universal store of value and wants to share it with the world. Lolli is available on Chrome, Firefox, Edge and the App Store for iOS. To learn more, please visit lolli.com.
Acrew Capital is a venture firm that engages in long term partnership with world-class teams uniquely suited to solving big, challenging problems. We believe the best investment decisions are driven by a combination of depth of conviction and diversity of perspective and that investment should be tailored to the specific needs of each founding team. Acrew investment themes include Cybersecurity and Infrastructure Modernized, Financial Services Rebuilt, Work Reimagined, Data Interconnected and Community Activated/Consumer. The Acrew founding team previously worked together at Aspect Ventures. The investing team combines experience from Accel, Brown University, Google, Greycroft, Imperva, StubHub, and Yodlee. Investments by the Acrew team include At-Bay Insurance, Cato Networks, Chime, Divvy Payments, Exabeam, Finix, Pie Insurance, and HotelTonight/AirBnB. Collectively, the Acrew investing team’s track record includes 10 IPOs, over 25 successful acquisitions and over 150 rounds of follow-on capital raises, resulting in over $100 billion in market value created and over $1B in returns to our investors. For more information visit www.acrewcapital.com.
Media Contact: Aubrey Strobel