Michelle Phan and Ashton Kutcher Invest in E-commerce Startup Lolli $3M Seed Round

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by Steve Muchoki · 3 min read
Michelle Phan and Ashton Kutcher Invest in E-commerce Startup Lolli $3M Seed Round
Photo: TechCrunch / Flickr

Michelle Phan, YouTube beauty queen, and Ashton Kutcher are among the investors in Lolli that raised $3 million. The round was led by Pathfinder, with participation from Bain Capital Ventures, Craft Ventures, and Digital Currency Group.

E-commerce startup Lolli, which gives online shoppers Bitcoin as rewards for online purchases, has attracted huge investment from a YouTube beauty queen, Michelle Phan, and Ashton Kutcher. According to a post from Coindesk.com, it is evident that it was among the latest fundraising rounds, which saw the startup raise $3 million.

As a result, Lolli has now raised a total of $5.4 million so far, putting it a major player in the crypto world. It is also an indication that more and more women are finding their way into the crypto sphere, and taking the financial advantages tied with it.

Pathfinder was at the forefront in the recent round with participation from Brain Capital Ventures, Craft Ventures and Digital Currency Group – a CoinDesk’s parent company.

The post reported that Michelle Phan’s fans can use Lolli to earn Bitcoin rewards as they shop on her e-retailer web Em Cosmetics.

“We have an incredible syndicate of strategic investors that will help drive the adoption of Lolli and Bitcoin forward,” said Alex Adelman, Lolli CEO.

Lolli, ItsInvestments from Kutcher and Others, and Cryptocurrency Sphere

The startup company is planning to spend the $3 million by first launching its mobile app in the coming summer, and also expand its touch globally by the end of the year. it is a bold move at this time when most people are opting to stay at home to avoid contracting the so-called coronavirus.

This is because the customer base will not be as huge as before the outbreak, therefore investing a big gamble with the uncertainty of the virus, which has crashed most business industries around the world.

However, with the anticipation that the crypto market will boom more in the coming years, it is likely to attract more investors globally. With a halving card already in play, whereby the Bitcoin supply has just been halved, if its demand remains constant or increases, then the crypto market at large is expected to rise exponentially until the next halving after around 1370 days.

The online retail business has dramatically changed over the past few years, with more people opting to use online apps. One of the game changer startups is Square, which has an app that offers Bitcoin. According to Adelman, Square’s patent for converting fiat-to-crypto is a game-changer for the retail industry.

According to him, it is arguably the most important patent in the payment space that will affect cryptocurrency over the next 10 years. “It’s an air-swap where someone can pay with whatever currency they want and also the merchant can accept whatever currency they want,” he concluded.

Bitcoin News, Cryptocurrency news, News
Steve Muchoki
Author: Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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