Lolli, a popular Bitcoin rewards application, has successfully raised $8 million in a Series B funding round, according to a report by TechCrunch. The investment, led by BITKRAFT Ventures, will allow Lolli to expand its rewards program to enterprise partners such as exchanges, neobanks, banks, payment companies, and browsers.
Since its launch in 2018, Lolli has experienced significant growth, forming partnerships with over 25,000 stores. The application’s rewards program enables users to earn Bitcoin or cashback when making purchases online or at physical retail establishments. Lolli aims to expand its network to over 100,000 participating stores by 2025.
One of Lolli’s key features is Card Boosts, which allows users to add BTC rewards to their debit or credit cards. This product has had a substantial impact, with users earning over five times the rewards on daily purchases like coffee, gas, or groceries. As a result, Lolli has seen a year-over-year growth rate exceeding 35% as of October 2023.
Lolli’s users have benefitted from Bitcoin’s volatility, as the value of their earned rewards has appreciated over time. The company anticipates continued value appreciation for its users as BTC is currently valued at over $42,000.
Looking ahead, Lolli plans to capitalize on the growing crypto adoption and positive momentum in the markets. The company aims to introduce new features, forge significant partnerships, and enhance financial education offerings in 2024. By expanding into enterprise partnerships, Lolli aims to drive broader adoption of cryptocurrencies by enabling major corporations and financial institutions to offer Bitcoin rewards.
Overall, Lolli’s successful funding round and expansion plans indicate a significant step toward mainstream adoption of Bitcoin rewards. With its commitment to operational efficiency and providing a comprehensive platform for users to earn money and learn about Bitcoin, Lolli is poised to play a prominent role in the ongoing crypto revolution.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | 🇺🇸 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Alex Adelman |
| Companies | BITKRAFT Ventures, Lolli |
| Currencies | Bitcoin |
| Securities | None |
