Bitcoin rewards provider Lolli raises $8 million in Series B funding
Summary
Lolli founder and CEO Alex Adelman said the firm has historically been "very intentional" in raising just the amount needed to reach its next growth phase. "With this round, we have just the right amount needed to win without diluting our existing investors and team," Adelman told The Block.Lolli started the fundraising process in early 2023 while getting "significant M&A interest" in parallel throughout the year, Adelman said adding that the firm decided to go the fundraising path to remain independent and closed the round in November. Adelman declined to comment on the amount of cashback rewards to date but said Lollis user base continued to grow over 35% year-over-year as of October. Lolli remains focused on bitcoin rewards but is open to exploring other cryptocurrencies if there is strong user demand, Adelman said.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry.