The company secures a fresh round of funding from new and previous investors to accelerate bitcoin adoption through gamified rewards.
New York, NY — December 14, 2023 — Lolli, the leading bitcoin and cashback rewards company, today announced the close of an $8 million Series B led by BITKRAFT Ventures, with participation from Sfermion, Ulta Beauty’s Prisma Ventures, Hypersphere Ventures, Rahul Pagidipati, Newman Capital, 2 Punks Capital, MZ Web3 Fund, Digital Currency Group, Company Ventures, The Spartan Group, Wagmi Ventures, and others.
This raise includes a return commitment from Lolli’s earlier investors including Seven Seven Six, Founders Fund’s Pathfinder Ventures, Bain Capital Ventures, Serena Ventures, Michelle Phan, Logan Paul, Pir Granoff, MrBeast’s Night Media, and Animal Capital.
CEO and Founder of Lolli, Alex Adelman said:
We are thrilled to announce this fundraise as we enter this next phase of growth at Lolli. As bitcoin’s price continues to surge and Lolli users’ rewards go up in value, we look forward to using this ongoing period of growth and excitement in the ecosystem to bring bitcoin to even more people through gamified earning experiences. We remain committed to building an industry-leading product and the best way for people to learn about and own crypto with Lolli.”
Partner at BITKRAFT Ventures, Carlos Pereira said:
At BITKRAFT, we are firm believers in Lolli’s mission to leverage financial gamification and rewards to accelerate crypto adoption. We look forward to working with Lolli to help drive Lolli’s continued growth as a leading onramp into crypto. With its engaging user experience, extensive merchant partnerships, and industry-leading technology, Lolli is uniquely positioned to transform how people earn, own, and understand digital assets.”
Founder of Seven Seven Six and investor, Alexis Ohanian said:
Seven Seven Six is excited to remain a part of Lolli's mission to democratize access to bitcoin through rewards. Lolli has played a powerful role in driving mainstream adoption, particularly for first-time bitcoin owners, and we see tremendous opportunities ahead for Lolli as a way for people to better understand and own sound money. By integrating into users’ shopping habits to provide free bitcoin, Lolli has created a unique solution as an easy, low-risk way to get bitcoin.”
Investor and beauty entrepreneur, Michelle Phan, said:
Starting your journey of learning about and owning bitcoin can be intimidating. That’s why Lolli’s solution is so revolutionary as an entry point into bitcoin. With Lolli, shoppers simply make the purchases they were going to make anyway to earn rewards. You can get your first piece of a bitcoin just by buying makeup, booking travel, or getting coffee. As an early investor in Lolli, I look forward to continuing to see the Lolli team execute on its mission to bring more people into bitcoin for the first time and gain a better understanding of money.”
The fundraise will contribute to the ongoing expansion of the company, which will include bringing Lolli’s patented multi-currency rewards offering to enterprise partners including neobanks, exchanges, payment companies, search engines, and card networks. Lolli’s enterprise partners will gain access to Lolli’s extensive rewards network of top retailers and Fortune 500 companies, with the ability to power their own branded rewards experiences with Lolli’s exclusive rewards offering.
The funding round will also contribute to the ongoing development of Lolli’s Card Boost program, which launched in 2022 and allows shoppers to link any credit or debit card to earn bitcoin and cashback rewards in-store.
Founded in 2018, Lolli gives shoppers bitcoin or cashback rewards on all their everyday purchases at 25,000+ top stores including Ulta Beauty, Groupon, and Booking.com. Shoppers can use the Lolli mobile app, website, or browser extension to earn up to 30% back, with an average of 7% back. Lolli users have earned more than $10 million in bitcoin rewards to date, in addition to cashback rewards.
Alex Adelman and Carlos Pereira are available for interview.
About Lolli Inc:
Lolli is the first bitcoin rewards application that lets people earn bitcoin and cashback when they shop in-store and online at 25,000+ top stores. 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 Safari, and the App Store and the Google Play Store. To learn more, please visit lolli.com.
About BITKRAFT Ventures:
BITKRAFT Ventures is a leading global investment platform for gaming and Web3 according to research from InvestGame and Drake Star Partners. Founded by industry pioneer Jens Hilgers, BITKRAFT serves a worldwide network that spans many of the industry’s forward-thinking startups and founders—including former executives from the likes of Activision Blizzard, Riot Games, Epic Games, Google, and Apple who are working to build and operate the virtual worlds and economies of the future. BITKRAFT operates four venture funds with a total of over $830M in assets under management and has over 100 companies in its global portfolio as of August 2022. BITKRAFT’s experienced international team works closely with exceptional entrepreneurs to create significant value through early candid partnerships, unique domain experience, entrepreneurial history, and a global ecosystem of strategic partners. Find out more about how BITKRAFT and its portfolio companies are pushing the boundaries of Synthetic Reality® by visiting https://www.bitkraft.vc/vision.
Media Contact: Elena Nisonoff