Bitcoin [BTC] rewards start-up raises $2.25 million; Bain Venture Capital one among the investors
From AMBcrypto.com by Priya, Nov. 15, 2018Earlier today, Lolli, a Bitcoin rewards start-up announced that they have raised $2.25 million in their seed round. The start-up gained investment from the top-notch players across the globe.
This included Bain Capital, a private investment firm based in Boston, Version One, Digital Currency Group, Forerunner Ventures, 3K VC, Quaker Health Ventures, SV Angel, FJ Labs, and Rugged Ventures. More so, the company stated that they gained investment from the “some incredible strategic angels.”
With the investment raised in their seed round, the start-up will be making further improvements on their product, add more merchants, increase the strength their team and increase the adoption of Lolli.
The reward application enables users to gain free Bitcoin when they shop online. This includes various industries such as lifestyle, trade, food, and fashion. Lolli has partnered with over 500 online retail merchants. The company which works towards making Bitcoin more accessible has successfully added Hilton, Marriott, GoDaddy, Priceline, Booking.com, Walgreens, VRBO, and CVS to their partnership list.
The CEO and Founder of Lolli, Alex Adelman, in an interview with The Block said:
People haven’t really thought about the consumer. People want to earn bitcoin more than they want to spend it. You can attract young, affluent users who are tech-savvy if you offer them bitcoin”
Adelman further added:
“We are working with international retailers. Bitcoin is inherently international”
According to The Block, Angela Tran Kingyens, a partner at Version one said:
“Lolli makes it incredibly simple for people to earn bitcoin when they shop online. All a user has to do is sign up for Lolli and shop at one of 750+ top online stores, and they will automatically get bitcoin deposited to their Lolli wallet. The simplicity of the product and mass appeal of shopping will lead to broader adoption of bitcoin.”
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