Bitcoin (BTC) rewards company Lolli announced the close of a $3 million seed-II funding round led by Pathfinder and investors such as Michelle Phan, Ashton Kutcher, and Guy Oseary.
The funding will help launch the company’s mobile application and expand it internationally, with a tentative launch date for the summer. Lolli assures that the app will allow greater accessibility to Bitcoin, allowing users to earn from merchants on both web and mobile.
Lolli is excited to announce the close of its oversubscribed $3 million Seed funding round led by @FoundersFund. Other strategic investors include @MichellePhan, Ashton Kutcher (@aplusk), Guy Oseary (@guyoseary) and more.https://t.co/R9Ee6QN6cp — Lolli 🍭 (@trylolli) May 11, 2020
Alex Adelman, the CEO and co-founder of Lolli welcomes repeat investors like FJ Labs, Version One and Digital Currency Group, among others while commenting:
“We plan to continue our mission of making bitcoin even more accessible to all through our website and extension. With the new funding, we will be accelerating the launch of our upcoming mobile app and subsequent international expansion. Expect to see some exciting new ways for people to both earn and learn about bitcoin.”
Adleman says that the company is seeing a “dramatic” increase in Bitcoin adoption through rewards.
The CEO also assured that the amount of Bitcoin they have awarded to their users in the first quarter of 2020 is eight times what they distributed in the first quarter of 2019.
Adelman states that since its launch they’ve brought on hundreds of merchants and “tens of thousands” of new users into Bitcoin.
Beauty entrepreneur Michelle Phan says on Lolli’s app:
“The moment I learned about Lolli, I knew this was the right platform that will help make bitcoin accessible to all, and I needed to invest in it. I’m thrilled to work with Lolli to help educate and bring Bitcoin to the masses.”
YouTube beauty queen, Michelle Phan (Source: Wikimedia Commons)
Very excited for @trylolli https://t.co/MO8w9cNtcy — 𝓜 (@MichellePhan) May 11, 2020
Meanwhile, Matt Senter, the chief technology officer and co-founder of Lolli says that they would be introducing some new features within the extension and web experience, plus they are working with the engineering team to expand internationally “this year.”