Bitcoin rewards startup Lolli announces $5m pre-Series A round
Bitcoin rewards venture, Lolli, has closed a pre-Series A fundraising round after pulling in $5 million.
The round saw investment from the likes of Seven Seven Six, a venture capital firm co-founded by Reddit executive chairman Alexis Ohanian, Serena Williams’ Serena Ventures, and management company Night Media.
Lolli, which launched in 2018, will use the cash to develop its mobile application, and for international expansion.
Alex Adelman, Lolli’s CEO and Co-founder, says: “We’re thrilled to be working with Seven Seven Six, Serena Ventures, and a fantastic team of investors in creating the easiest way for people to earn Bitcoin when they shop.”
“This is an exciting time and opportunity to accelerate adoption and increase accessibility to Bitcoin.”
The raise follows a $3 million seed round led by PathFinder, Founders Fund’s early-stage investment vehicle, and including Ashton Kutcher and Guy Oseary’s Sound Ventures, beauty mogul Michelle Phan, Digital Currency Group, and Bain Capital.