Launched in 2018, Lolli’s reward program gives users bitcoin or cashback when they shop online or in person at restaurants and stores.
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GLOCo-founder and CEO Alex Adelman told TechCrunch that the new financing — bringing its total funding to $28 million — will be used to bring the rewards program to partners such as exchanges, banks, neobanks, browsers and payment companies.
Co-founder and CEO Alex Adelman told TechCrunch Thursday (Dec. 14) that the new financing — bringing its total funding to $28 million — will be used to bring the rewards program to partners such as exchanges, banks, neobanks, browsers and payment companies.
“We have historically raised the amount needed to win,” Adelman said. “We don’t take more money than we need to support our next phase of growth, and are very focused on operating efficiently and proving out our business model.”
Launched in 2018, Lolli’s reward program gives users bitcoin or cashback when they shop online or in person at restaurants and stores. The company last year introduced Card Boosts, which lets users add rewards to debit and credit cards when they shop.
Adelman described the product as a “tremendous growth-driver” that let users earn more than five times the rewards on daily purchases such as coffee, gas or groceries. As of October of this year, he added, Lolli’s active shoppers have risen by over 35% year-over-year.
“Lolli is on track to expand the number of stores where users can shop to over 100,000 by 2025,” the CEO told TechCrunch.
“We have historically raised the amount needed to win,” Adelman said. “We don’t take more money than we need to support our next phase of growth, and are very focused on operating efficiently and proving out our business model.”
Launched in 2018, Lolli’s reward program gives users bitcoin or cashback when they shop online or in person at restaurants and stores. The company last year introduced Card Boosts, which lets users add rewards to debit and credit cards when they shop.
Adelman described the product as a “tremendous growth-driver” that let users earn more than five times the rewards on daily purchases such as coffee, gas or groceries. As of October of this year, he added, Lolli’s active shoppers have risen by over 35% year-over-year.
“Lolli is on track to expand the number of stores where users can shop to over 100,000 by 2025,” the CEO told TechCrunch.
