Lowe's goes live on Lolli Bitcoin rewards platform

Bitcoin rewards startup, Lolli, has added American home improvement retailer, Lowe's, to its platform.

Its users can now earn Bitcoin back when they shop online for appliances, furniture, and housing essentials.

Excited to share that Lowe's is now LIVE on https://t.co/rGJV9bI42g!

Lolli users can now earn bitcoin back when they shop for appliances, furniture, and housing essentials. 🛠https://t.co/rM4pBLG1ch
— Lolli 🍭 (@trylolli) June 29, 2021

Boxed

Boxed, a New York-based online retailer that sells and delivers bulk sized groceries, recently teamed with Lolli to give users up to 5% Bitcoin back on purchases.

Alex Adelman, CEO and Co-founder, Lolli, said: “For consumers with an interest in both earning Bitcoin and affordable, convenient online shopping, Lolli and Boxed are the perfect way to circumvent shopping with Amazon, while getting a significant amount of free money back in Bitcoin, the best performing asset class of the last ten years.”

Alison Weick, Chief Marketing Officer at Boxed, commented: “This will enhance our customers’ shopping experience as they redeem cash or Bitcoin when shopping for their bulk groceries and household essentials.”

Funding round

Lolli recently closed a pre-Series A fundraising round after pulling in $5 million.

This 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, said it would use the cash to develop its mobile application, and for international expansion.

Adelman commented: “This is an exciting time and opportunity to accelerate adoption and increase accessibility to Bitcoin.”

The raise followed 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.