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July 2, 2025 – Lolli, the pioneering Bitcoin and cashback rewards platform, today announced its acquisition by Thesis*, a leading venture studio dedicated to building foundational Bitcoin technologies. This landmark acquisition is poised to significantly accelerate Lolli’s mission to make Bitcoin accessible to a global audience, driving the creation of a comprehensive Bitcoin-powered lifestyle economy.
The integration of Lolli into the Thesis* ecosystem, which includes innovative Bitcoin-centric projects like Mezo, tBTC, and Fold, will unlock unprecedented opportunities for users to earn, save, and utilize Bitcoin seamlessly in their everyday lives. Lolli has successfully empowered over 600,000 users to earn Bitcoin and cashback rewards from thousands of top retailers, making the journey into Bitcoin ownership safe, simple, and enjoyable.
"Joining forces with Thesis* marks a transformative moment for Lolli and our vibrant community," said Alex Adelman, CEO and Co-founder of Lolli. "This acquisition will supercharge our growth, expand our product offerings, and propel our shared vision of mainstream Bitcoin adoption by embedding it into daily spending and saving habits. Our ambition to build a truly Bitcoin-powered lifestyle economy is now more attainable than ever, with Thesis* providing unparalleled expertise and resources."
Thesis* is widely recognized for its commitment to developing robust infrastructure within the Bitcoin space. Their portfolio companies exemplify a deep dedication to advancing Bitcoin's utility and reach, making them an ideal partner for Lolli’s next phase of growth.
Lolli’s journey to this pivotal acquisition has been marked by consistent innovation and strong investor confidence. Founded in 2018 by Alex Adelman and Matt Senter, Lolli quickly established itself as a leader in the Bitcoin rewards space.
A History of Growth and Strategic Investment:
- Series B Funding ($8 Million): On December 14, 2023, Lolli closed an $8 million Series B round led by BITKRAFT Ventures, with participation from Sfermion, Ulta Beauty’s Prisma Ventures, Hypersphere Ventures, Rahul Pagidipati, Newman Capital, 2 Punks Capital, MZ Web3 Fund, Digital Currency Group, Company Ventures, The Spartan Group, Wagmi Ventures, and others. This round also saw strong return commitments from earlier investors including Alexis Ohanian’s Seven Seven Six, Founders Fund’s Pathfinder Ventures, Bain Capital Ventures, Serena Ventures, Michelle Phan, Logan Paul, Pir Granoff, MrBeast’s Night Media, and Animal Capital.
- Carlos Pereira, Partner at BITKRAFT Ventures, noted at the time, "At BITKRAFT, we are firm believers in Lolli’s mission to leverage financial gamification and rewards to accelerate crypto adoption. Lolli is uniquely positioned to transform how people earn, own, and understand digital assets.”
- Alexis Ohanian, Founder of Seven Seven Six, added, "Lolli has played a powerful role in driving mainstream adoption, particularly for first-time bitcoin owners, and we see tremendous opportunities ahead for Lolli as a way for people to better understand and own sound money."
- Series A Funding ($10 Million): On July 28, 2021, Lolli secured a $10 million Series A financing round led by Acrew Capital, with additional investments from Banana Capital, Up North Management, and Animal Capital. This round also included investments from prominent influencers and entrepreneurs such as Logan Paul, Chantel Jeffries, Lauren Riihimaki (LaurDIY), Kenny Beecham, and Baron Davis, alongside recommitments from early investors like Alexis Ohanian’s Seven Seven Six, 3K VC, Gabriel Leydon, and Forerunner Ventures.
- Pre-Series A Funding ($5 Million): On March 24, 2021, Lolli announced a $5 million round backed by notable investors including Serena Williams' Serena Ventures, her husband Alexis Ohanian’s Seven Seven Six, and Night Media (representing YouTuber MrBeast). Other influential investors included Casey Neistat, Phil DeFranco, Cody Ko, Noel Miller, Ian Borthwick, and Gabriel Leydon.
- Serena Williams stated at the time, “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.”
- Seed Round ($3 Million): Prior to March 2021, Lolli had raised a $3 million seed round led by PathFinder, with participation from Digital Currency Group (CoinDesk’s owner), Michelle Phan, and Ashton Kutcher.
Product Innovation and Expanding Reach:
Lolli has continuously innovated its platform to enhance user experience and expand its footprint. In May 2025, the company announced its expansion into enterprise rewards, coming out of stealth with a new offering for businesses seeking to integrate Bitcoin and cashback rewards. This builds on the success of its consumer-facing platform, which by December 2023, had enabled users to earn over $10 million in Bitcoin rewards.Further enhancing its utility, Lolli launched wallet compatibility for on-chain rewards in October 2024, allowing users to connect external wallets like Coinbase Wallet to directly receive Bitcoin rewards. The company also introduced its Card Boost program in 2022, enabling shoppers to link any credit or debit card to earn Bitcoin and cashback rewards in-store.
With over 25,000 merchant partners, including major brands like Ulta Beauty, Groupon, Booking.com, Kroger, and Microsoft, Lolli has made earning Bitcoin a seamless part of everyday shopping. Users can earn up to 30% back, with an average of 7% back, through the Lolli mobile app, website, or browser extension.
The combined strengths of Lolli’s user-centric rewards platform and Thesis*'s deep expertise in Bitcoin infrastructure are set to accelerate the mainstream adoption of Bitcoin, creating a more financially inclusive and Bitcoin-powered future.
About Lolli
Lolli is the leading Bitcoin and cashback rewards application that makes it safe, simple, and fun for everyone to own Bitcoin. By partnering with thousands of top retailers, Lolli allows users to earn Bitcoin and cashback rewards on their everyday purchases. Lolli is dedicated to accelerating Bitcoin adoption by integrating it seamlessly into the daily lives of consumers.About Thesis*
Thesis* is a venture studio focused on building and investing in foundational technologies that advance the Bitcoin ecosystem. With a portfolio that includes Mezo, tBTC, and Fold, Thesis* is committed to developing innovative products and infrastructure that enhance the utility, accessibility, and adoption of Bitcoin for a global audience.Compiled by CMO Intern team
