- The Lolli platform recently announced the successful completion of a new funding round.
- With the support of prominent investors including Bitkraft Ventures, DCG, and Hypersphere Ventures, the service managed to raise $8 million.
Lolli has recently concluded its Series B funding round, securing $8 million in investments. This round was led by Bitkraft Ventures, and the funds will be used to fuel further expansion and the launch of products catering to corporate clients.
Aside from Bitkraft Ventures, other participants in this funding round included Sfermion, Hypersphere Ventures, 2 Punks Capital, MZ Web3 Fund, Digital Currency Group, and Company Ventures.
Earlier in July 2021, Lolli successfully closed its Series A funding round, managing to raise $10 million. According to Lolli CEO Alex Adelman, the amount raised by both rounds was precisely enough to support the company’s growth plans.
With the funds acquired in this latest round, the company intends to focus on the launch of corporate products and further develop and support the Lolli Card Boost program.
It’s worth noting that the Lolli platform, which was established in 2018, allows users to earn cashback in both bitcoin and fiat currency for purchases made through the application or browser extension with partner brands.
According to its official website, Lolli currently partners with over 25,000 diverse brands, and users can expect to receive an average cashback of around 7%. In a previous report, we highlighted that cryptocurrency startup Andalusia Labs raised $48 million with a valuation of $1 billion.