Bitcoin (BTC) rewards app Lolli has reportedly been at the receiving point of a fresh financial support from venture funds and other investors, to go forth with its plan for catering its offerings to a broader audience.
Specifically, on July 28th, the firm reportedly disclosed details of a successful acquisition of $10 million, via a Series A funding round led by Acrew Capital, which witnessed participation from UpNorth Management, Animal Capital, Banana Capital and Formula. Well-known influencers like Logan Paul and Chantel Jeffries also took part in the round.
Numerous financial support of Lolli in the past, nominally Seven Seven Six, 3K VC, Gabriel Leydon and Foreruner Ventures, also reportedly renewed their commitment to the firm during this most recent fundraiser.
Lolli reportedly revealed that the acquired sum will be dedicated to enterprise-wide expansion, including hunting for fresh personnel, forming new alliances and further growing the newly rolled out mobile app.
“We believe it’s imperative to align with top creators to both educate, distribute, and amplify the power of bitcoin to the masses.” Alex Adelman, Lolli’s co-founder and current Head, reportedly remarked regarding the firm’s target of establishing an access gateway “for all” to Bitcoin.
Lauren Kolodny, Acrew Capital’s co-founder and managing partner, reportedly referred to Lolli’s offerings as making a low barrier to entry for early Bitcoin users available.
Lolli has managed to reel in a variety of top-tier endorsements previously. In March 2021, the firm reportedly closed a $5 million investment round, with the sum to be channeled towards further developing its mobile app.