Bitcoin Rewards Firm Lolli Helping Drive Bitcoin Adoption
Bitcoin rewards firm Lolli has secured a Series A $5 million investment led by Alexis Ohanian’s Seven Seven Six ventures and tennis star Serena Williams’ Serena Ventures among others.
The new investment will be used to help Lolli expand globally as they help drive Bitcoin adoption by giving shoppers a way to earn free Bitcoin.
It comes less than a year since the Bitcoin payments firm landed its first funding round of $3 million, which also had notable investors Ashton Kutcher and YouTuber Michelle Phan.
What is Lolli?
Lolli is a browser extension that offers Bitcoin back for payments made with Lolli’s partners at some of the world’s biggest retailers including Walmart, GoDaddy, Microsoft and Nike.
The extension is for Google Chrome, Firefox, or Microsoft Edge and saves merchants 1-5% in payments to card companies and other payment providers, and of course shoppers earn free Bitcoin.
Shoppers using the Lolli extension can earn an average 7% savings on deals the Bitcoin rewards firm has done with thousands of merchants.
According to the press release, ‘The funding will go towards continued developments of Lolli’s mobile app, facilitating a seamless shopping experience for a growing user base, and international expansion.’
Founded in 2018 by Matt Senter and Alex Adelman, Lolli makes Bitcoin more accessible to all by providing a way for anyone to earn free bitcoin rewards on everyday purchases.
Lolli was the first Bitcoin rewards application to offer people a way to earn free Bitcoin and the US-based company has partnered with thousands of merchants including Macy’s, Walmart and Sephora.
Serena Williams Is Interested In Bitcoin
According to the official statement, ‘Lolli was created with the goal of making it easy to earn, own, and share Bitcoin with as many people as possible. The company believes in Bitcoin as a global alternative currency and universal store of value and wants to share it with the world.’
Speaking of the deal, Lolli CEO and Co-founder Alex Adelman said the company was looking to ‘accelerate adoption and increase accessibility to Bitcoin.’
Tennis star Serena Williams said she was excited about the venture with Lolli in their mission to drive Bitcoin adoption.
23-time grand slam winner Williams clearly believes in Bitcoin which she declared ‘earning and owning Bitcoin is a step towards financial inclusivity for all people.’
Bitcoin Rewards One Of Many Small Parts Driving Adoption
The Lolli extension is only active only in the US for now, but with the new funding Lolli intends to roll it out globally, helping Bitcoin adoption along the way.
The company is helping merchants and shoppers in the US save money and earn free Bitcoin. The Bitcoin rewards system is only a small piece of the infrastructure that is blooming from Bitcoin, but it’s these small applications that help drive adoption.
You might not be able to walk in and buy Bitcoin at Walmart just yet. However, Lolli is helping bridge the gap with such retail giants and as they begin to understand the power and utility of Bitcoin, we should expect they will open their tills to full acceptance.
