Lolli Closes $3M Seed Round Led By Founders Fund
Michelle Phan, Ashton Kutcher, and Guy Oseary among other notable investors
New York, NY — May 11, 2020 — Lolli, the leading bitcoin rewards company has today announced the close of an oversubscribed $3 million Seed II funding round led by Pathfinder, Founders Fund’s early-stage investment vehicle. Other new investors include beauty entrepreneur Michelle Phan, Sound Ventures, Craft Ventures, Company Ventures, Adam Leber, and Chapter One Ventures. Repeat investors include FJ Labs, Version One, Bain Capital Ventures, Digital Currency Group, Pir Granoff, and Brian Sugar.
Partner at Founders Fund, Scott Nolan said: “Lolli became the leader in bitcoin rewards by making it frictionless to own bitcoin. That initial friction has always been the biggest barrier to bitcoin adoption, and with the launch of their mobile app this year Lolli will take the next step in making bitcoin accessible to everyone.”
CEO and Co-founder of Lolli, Alex Adelman said: “We’re excited to continue accelerating the mission of Lolli, making bitcoin more accessible to all. The team and I are creating the easiest way for people to earn and own bitcoin. We have an incredible syndicate of strategic investors that will help drive the adoption of Lolli and bitcoin forward.”
Founded in August of 2018, Lolli has successfully launched its website, browser extensions on Chrome and Firefox, and has given hundreds of thousands of dollars back in free bitcoin to its users. Lolli users earn upwards of 30% back and an average of 7% on their everyday purchases. The company partners with over 750 top merchants such as Priceline, Macy’s, and Best Buy. These merchant partners pay Lolli when users shop their sites. Lolli then shares the commission with its users, sending free bitcoin to their Lolli wallets.
Investor and entrepreneur, Michelle Phan said: "The moment I learned about Lolli, I knew this was the right platform that will help make bitcoin accessible to all, and I needed to invest in it. I'm thrilled to work with Lolli to help educate and bring Bitcoin to the masses."
Investor at Sound Ventures, Maaria Bajwa said: "We love that Lolli has always been about financial inclusion and bringing bitcoin to the masses. The team’s relentless focus on making bitcoin accessible has manifested in every product they have built, and the upcoming mobile app launch and international expansion will make it even easier for users to both earn and learn about bitcoin.”
CTO and Co-founder of Lolli, Matt Senter said: "It’s amazing how far we’ve come. I’m grateful every day for our investors giving us the opportunity to build cutting edge technology with the greatest engineering, business, and operations teams. This funding will accelerate our efforts to launch our mobile app and expand internationally."
The funding will be used to launch Lolli’s mobile app and expand the company internationally this year. Lolli is set to launch its full mobile app in Summer 2020. The highly anticipated app will make bitcoin even more accessible by allowing Lolli users to earn from merchants on both web and mobile.
Michelle Phan and Lolli Co-founders, Alex Adelman and Matt Senter are available for interviews.
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 750+ 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 and Firefox. To learn more, please visit lolli.com.
Media Contact: Aubrey Strobel
Mobile: +1 (480) 254-4946