Bitcoin Shopping Rewards Startup Lolli Closes $2.25 Million Seed Round
Lolli, a new browser rebate extension that rewards users with Bitcoin (BTC), announced this week that it has closed a $2.25 million seed round from notable investors, including Bain Capital Ventures and Digital Currency Group.
I'm excited to announce our seed round with some amazing partners! 💜
Thankful for my team, the Lolli community, our investors, family, friends, & everyone who has supported us in building @trylolli so far. 🙏
We're just getting started. 🍭https://t.co/fySFzkNPPZ
— Alex Adelman 🍭 (@alexadelman) November 14, 2018
According to the announcement, the new capital will be used to further build out Lolli’s product, onboard more top merchants, drive marketing and expand the team.
Lolli launched back in July with over 500 top brands, including Macy’s, Office Depot and Bloomingdales. Since that time, Lolli has added Priceline, Booking.com, Hilton, Marriott, Brandless, Ulta, Harry’s, Casper, Saks, Lord & Taylor, GoDaddy, CVS, Walgreens and VRBO.
By sending sales to these Brands, Lolli earns a percentage on each transaction, and in return, pays a smaller percentage back to the shopper. This allows users to passively earn Bitcoin by simply downloading a Chrome extension.
Other investors in the round include Version One, 3K VC, FJ Labs, Quaker Health Ventures, Rugged Ventures and SV Angel.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.