Bitcoin rewards app Lolli completes new funding round
By Bob Garcia
Several high-profile investors contributed $10 million to help the company expand
For some time now Lolli, the popular Bitcoin rewards application, has wanted to continue expanding its services to a wider audience. It seems that the goal is now easier to achieve after receiving new backing from venture funds and other major investors.
The acceptance of this platform has been quite large, which is why yesterday, the company was able to announce that it has achieved great success after closing a $10 million Series A funding round led by Acrew Capital. In the round participated important companies such as Animal Capital, Banana Capital, Formula, and UpNorth Management. In addition, actress Chantel Jeffries and Youtuber Logan Paul were among the influencers who were also present.
Lolli also had the support of some of its former sponsors, such as 3K VC, Gabriel Lyedon, and Seven Seven Six, which after having had a close relationship, decided to show their commitment to the company once again during this last fundraiser.
Once the funding round was over, Lolli made it clear that the proceeds will be used for the overall expansion of the company. The idea is to be able to add more talent to the employee roster in order to continue to generate a great internal development, also plans to acquire more partnerships with important companies in the field as well as to further develop and optimize the mobile application that was recently launched to the public.
Alex Adelman, co-founder and CEO of Lolli, explained that the company’s main goal is to make Bitcoin more accessible to all interested parties. “We believe it is imperative to align with leading creators to educate, distribute and amplify the power of Bitcoin to the masses,” he added.