Lolli announces Safeway Bitcoin rewards partnership
It is now possible to now earn 3% in Bitcoin rewards on groceries at Safeway with Lolli’s new Card Boosts feature.
In a LinkedIn post, Alex Adelman, Lolli CEO and Co-founder, said: “Turn any debit or credit card into a Bitcoin rewards card and start earning free Bitcoin rewards on groceries today. This is what Bitcoin adoption looks like. Download Lolli’s new mobile app and start earning today”
Funding round
Last year, Lolli raised $10 million in a Series A funding round led by Acrew Capital.
Banana Capital, Up North Management, and Animal Capital, the Gen. Z-focused venture capital fund founded by social media big hitters Josh Richards, Griffin Johnson, and Noah Beck, also participated.
The round also included investments from influencers and entrepreneurs such as Logan Paul, Chantel Jeffries, Lauren Riihimaki of LaurDIY, Kenny Beecham, and Baron Davis.
Lolli, which was founded in 2018, said it would use the cash to expand the company and develop its recently launched mobile app.
“We’re thrilled by the support of so many incredible investors and fellow entrepreneurs who believe in our mission of making Bitcoin more accessible for all,” said Adelman.
“We believe it’s imperative to align with top creators to both educate, distribute, and amplify the power of Bitcoin to the masses.”
Co-founder and Managing Partner at Acrew Capital, Lauren Kolodny commented: “Lolli is democratising access to Bitcoin in a way that is truly revolutionary.”
“We’re excited to support the company in its mission to make Bitcoin as widely accessible as possible – with rewards as its initial seamless path to consumer adoption.”
“This low barrier and low risk point of entry makes Bitcoin adoption much more accessible to a broader demographic of people."
