Today: Jun 14, 2024

Lolli bags $8M Series B, nudging crypto adoption to hyperspeed.

6 months ago

Bitcoin and cashback rewards firm, Lolli, has successfully raised $8 million in a Series B funding round in order to drive the adoption of digital currencies. The round was led by BITKRAFT Ventures and saw participation from several investors, including Sfermion, Hypersphere Ventures, Prisma Ventures, Company Ventures, and Wagmi Ventures, amongst others. The raised funds will be used to further expand the company and its services, including its patented multi-currency rewards offering and Card Boost programme.

  • Lolli’s $8 million Series B funding round saw participation from a host of investors, underlining the increasing interest in the intersection of digital currencies and e-commerce.
  • The raised capital will contribute to the development and expansion of Lolli’s multi-currency rewards offering and its Card Boost programme, allowing the company to spread its impact and influence within the digital currency space.
  • Lolli, which was founded in 2018, enables users to earn Bitcoin or cashback rewards on their everyday purchases at more than 25,000 stores via its online platforms.

The investment is expected to contribute to the expansion of the company, including providing Lolli’s ground-breaking multi-currency rewards offering to enterprise partners. This includes neobanks, exchanges, payment companies, search engines, and card networks. Thereby, these enterprise partners will gain access to Lolli’s extensive retail network, which includes a number of Fortune 500 companies, and will be able to provide their own branded rewards with Lolli’s exclusive offering.

The raised capital will also contribute to the evolution of Lolli’s Card Boost programme, which was launched in 2022. This programme enables shoppers to link a credit or debit card so they can earn Bitcoin and cashback rewards in physical stores.

Lolli, which was founded in 2018, provides Bitcoin and cashback rewards for everyday purchases at over 25,000 stores. The company has partnerships with Ulta Beauty, Groupon, and Booking.com, and enables its users to earn up to 30% back with an average cashback of 7%.

As the company aims to drive wider adoption of cryptocurrency, this fundraise and its uses signify an encouraging step towards blending the worlds of traditional commerce and digital currency.