Lolli, a Bitcoin cashback company for online purchases, raised $ 5 million in a preliminary round of Series A funding, led by Reddit co-founder Alexis Ohanyan’s Seven Seven Six venture capital fund and Night Media.
We’re excited to announce our $ 5M Pre-Series A!
THIS is what bitcoin adoption looks like.
Full release: https://t.co/yw16194CrE
– Lolli (@trylolli) March 24, 2021
Among the investors are tennis stars Serena Williams, Ohanian’s wife, Serena Ventures.
“I am delighted to announce my investment in Lolli, a company dedicated to making Bitcoin more affordable. Earning and owning a cryptocurrency are steps towards reaching financial services for all people, ”Williams said.
According to the press release, Lolli is offering rewards for purchases from over 1,000 retailers including Kroger, Best Buy, Nike, and Ulta. The average cashback amount is 7% of the amount, the maximum is declared at 30%.
The company will use the attracted financing for the development of a mobile application and international expansion.
Lolli previously raised $ 3 million in a seed round led by the Pathfinder division of Peter Thiel’s Founders Fund.