Lolli, Inc.

Lolli, Inc. is a US-based company that provides a rewards platform enabling users to earn Bitcoin and cash back while shopping at over 25,000 retailers, enhancing everyday purchases through cryptocurrency rewards. Founded in 2018 and headquartered in New York, US, Lolli, Inc. operates a unique rewards platform that allows users to earn Bitcoin and cash back.

The company has raised a total of USD 8. 00 mn in its most recent Series B funding round on December 14, 2023, led by BITKRAFT Ventures, with participation from various investors including Digital Currency Group and Bain Capital Ventures. Alex Adelman serves as both founder and CEO, who has a background in establishing innovative tech ventures. Lolli offers a rewards platform enabling users to earn Bitcoin and cash back while shopping at over 25,000 participating retailers.

The primary offerings include a browser extension and mobile app that link user accounts to earn rewards on purchases made through partner stores, leveraging retailer commissions to provide consumer rewards, either in Bitcoin or cash. The service appeals to a wide customer base, including typical shoppers and cryptocurrency enthusiasts, primarily operating in the United States with planned expansions to additional markets. Lolli's revenue model is built on partnerships with retailers, earning commissions for transactions conducted via its platform. When users make purchases at partner stores, Lolli receives a fee from the retailer, which is then converted into rewards for the users.

The model operates on a B2C basis, engaging directly with consumers via the Lolli app, which incorporates gamified elements like the Daily Stack for additional rewards. The cash back percentage can go up to 30%, ensuring user engagement and loyalty. The company plans to utilize its recent USD 8. 00 mn in Series B funding to enhance Bitcoin adoption through gamified rewards.

Lolli aims to expand its services into new geographic regions, targeting additional markets in the coming year, with a focus on increasing user engagement and rewards offerings. Upcoming product enhancements are also in development, although specific release dates have yet to be disclosed.