A $5 million round has just been collected by Lolli, the American Bitcoin Back startup, and among the participants was the “Queen” of tennis, Serena Williams.
According to Lolli, the leading bitcoin rewards company that gives users free bitcoin when they shop at top retailers (bitcoin back), the funds raised will be used to finance the development of the mobile app and its expansion.
Participating in the fundraising are a group of investors including Serena Williams with Serena Ventures, Casey Neistat, Phil Defranco, Cody Ko, Noel Miller, Ian Borthwick, and Gabriel Leydon.
Not only that, Williams’ husband Alexis Ohanian with his venture capital fund and Night Media, the management company representing YouTuber MrBeast, also participated in the pre-Series A round.
On that note, here is how the Queen of Tennis, Serena Williams, described her participation:
“I’m excited to announce my investment in Lolli, a company on a mission to make bitcoin more accessible. Earning and owning bitcoin is a step towards financial inclusivity for all people”.
Alex Adelman, CEO and co-founder of Lolli, also gave his statement:
“We’re thrilled to be working with Seven Seven Six, Serena Ventures, and a fantastic team of investors in creating the easiest way for people to earn bitcoin when they shop. This is an exciting time and opportunity to accelerate adoption and increase accessibility to bitcoin”.
Lolli’s mission: mass adoption of bitcoin
According to an interview with Coindesk, Adelman said Lolli’s primary mission from the outset has been the mass adoption of bitcoin.
“We started out with the idea of educating people about bitcoin. So we just attached it to something that everybody does: shop. People think about investing when they think about bitcoin, but there’s probably less than 1% of the world that would consider themselves investors. Everybody would consider themselves a shopper”.
Currently, the company offers an average of 7% bitcoin-back rewards at retailers such as Kroger, Sephora, Microsoft, Booking.com and Ulta. Lolli users have earned more than $3 million in bitcoin rewards to date.
The newly raised funds bring Lolli’s total funding to $10.25 million. Before now, the company had raised $5.25 million in two rounds.