Lolli, a platform offering bitcoin cashback for online purchases, has raised $5 million in a pre-Series A funding round. It was led by venture-capital firm Seven Seven Six, co-founded by Reddit’s Alexis Ohanian, and Night Media.
We’re excited to announce our $5M Pre-Series A!
This round was led by @sevensevensix and includes @NightMedia_, @SerenaVentures, @casey & many others.
THIS is what bitcoin adoption looks like. 🚀
Full release: https://t.co/yw16194CrE
— Lolli 🍭 (@trylolli) March 24, 2021
Among the investors is Serena Ventures, the firm of tennis star Serena Williams, wife of Alexis Ohanian.
“I am happy to announce my investment in Lolli, a company whose aim is to make bitcoin more accessible. Earnings and ownership of cryptocurrency are steps toward reaching financial services for everyone,” Williams said.
According to the press release, Lolli offers rewards on purchases at more than 1,000 retailers, including Kroger, Best Buy, Nike and Ulta. The average cashback is 7% of the purchase, with a maximum stated at 30%.
The raised funding will be used to develop the mobile app and for international expansion.
Earlier, Lolli raised $3 million in a seed round led by Pathfinder, the Founders Fund unit run by Peter Thiel.
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