Popular Bitcoin (BTC) rewards app Lolli has received fresh backing from venture funds and other investors as it plans to calibration its services to a wider audition.

On Wed, the company announced it had closed a $10 million Series A funding round led by Acrew Capital letter, with additional participation from UpNorth Direction, Animal Capital, Banana Capital letter and Formula. Influencers such as Logan Paul and Chantel Jeffries also participated.

Several of Lolli'due south previous backers including Seven Seven 6, 3K VC, Gabriel Leydon and Precursor Ventures also recommitted to the company in the latest fundraiser.

Lolli said the financing will go towards enterprise-wide expansion, including hiring new talent, pursuing partnerships and further developing the recently launched mobile app.

Alex Adelman, Lolli's co-founder and CEO, said his company'southward mission is to brand Bitcoin "more accessible for all." He added:

"Nosotros believe it'southward imperative to marshal with pinnacle creators to both brainwash, distribute and amplify the power of Bitcoin to the masses."

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Lauren Kolodny, Acrew Capital letter'due south co-founder and managing partner, described Lolli's services as providing a low bulwark to entry for early on Bitcoin users.

Lolli has attracted several high-contour endorsements in the recent past. In March of this yr, the company secured $5 1000000 in investments to be used for farther developing its mobile app. In May 2022, actor and entrepreneur Ashton Kutcher was one of several investors to participate in Lolli's oversubscribed $3 million seed round.

On the business concern front, Lolli secured a major partnership with sale market eBay in November of terminal year. Users who downloaded the Chrome extension were able to earn 1% dorsum in Bitcoin when they shop on eBay.

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