Bitcoin rewards app Lolli raises $10 Million in Series A Funding

By Palak Malhotra
Published July 28, 2021 Updated July 28, 2021
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Bitcoin rewards app Lolli raises $10 Million in Series A Funding

By Palak Malhotra
Published July 28, 2021 Updated July 28, 2021

The Bitcoin (BTC) reward application, Lolli announced today that it has raised over $10 Million in their latest funding round led by the venture firm, Acrew Capital. Furthermore, they shared that Acrew had collaborated with Banana Capital, Up North Management, and Animal Capital, the Gen. Z-focused venture capital fund founded by social media influencers Josh Richards, Griffin Johnson, and Noah Beck.

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The funding round has also been sponsored by top influencers cum entrepreneurs like Logan Paul, Chantel Jeffries, Lauren Riihimaki, Kenny Beecham, and Baron Davis. Additionally,

Lolli revealed that the funds collected from the Series A funding round will be used in financing the company’s expansion by hiring more people, signing new partnership agreements, and developing the recently launched mobile app.

Bitcoin Rewards over Investments

Lolli’s founders emphasized the importance of making use of bitcoin more accessible in the long run, amid the rapid and inevitable rise of cryptocurrencies. Lolli’s focus is to make Bitcoin use less intimidating and more interesting to users to bridge the gap between the Crypto niche and the masses.

“We’re thrilled by the support of so many incredible investors and fellow entrepreneurs who believe in our mission of making bitcoin more accessible for all. We believe it’s imperative to align with top creators to both educate, distribute, and amplify the power of bitcoin to the masses.”, said Alex Adelman, CEO, and Co-founder of Lolli.

Co-founder and Managing Partner at Acrew Capital, Lauren Kolodny highlighted that the aim is to democratize access to bitcoin by the use of rewards as the initial path to a retail consumer’s adoption of crypto.

“This low barrier and low-risk point of entry make bitcoin adoption much more accessible to a broader demographic of people.”, Kolodny said.

Influencer’s take on BTC rewards

Influencers like Logan Paul and Lauren Riihimaki of LaurDIY have commented on easing the process of earning Bitcoin. They pointed out that focusing on the reward aspect will attract more investors and is also less risky.

“What’s better than online shopping? Online shopping while getting free bitcoin back.”, said Lauren Riihimaki.

 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Palak Malhotra
238 Articles
Journalism & Mass Comm. ‘21 graduate, Palak is a GenZ journalist with background in Lifestyle journalism & PR. At CoinGape, Palak is a junior crypto journalist preparing for Web 3.0

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