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A-Rod backs online brokerage Tornado in $10 million funding round
The seed round also featured other prominent participants like founder of Barstool Sports Dave Portnoy and New Enterprise Associates managing general partner Tony Florence.
July 22, 2021
Online brokerage Nvstr announced Wednesday it has relaunched and rebranded as Tornado on the heels of a fresh funding round led by baseball legend Alex Rodriguez and billionaire serial entrepreneur Marc Lore.
Nvstr, founded in 2015, relaunched as Tornado with the debut of a new website, mobile app and technology features supported by the $10 million round of seed funding, according to the announcement. The round was led by Rodriguez, Chairman and CEO of A-Rod Corp., and Lore, who are co-founders of venture capital firm VCP, with participation from founder of Barstool Sports Dave Portnoy and New Enterprise Associates managing general partner Tony Florence.
Tony-florenceDave-portnoyPhil-defrancoAlex-rodriguezYoutubeEnterprise-associatesTwitterCerulli-associatesGamestopA-rod-corpBarstool-sports-dave-portnoyNew-enterprise-associatesBackers included Seven Seven Six
, Night Media, Serena Ventures, Casey Neistat, Phil Defranco, Cody Ko, Noel Miller, Ian Borthwick, and Gabriel Leydon. This funding followed a previous $3m seed round led by PathFinder, Founders Fund’s early-stage investment vehicle, and included Ashton Kutcher and Guy Oseary’s Sound Ventures, Michelle Phan, Digital Currency Group, and Bain Capital.
The company is using the funds to continue to develop its mobile app and expand internationally.
Founded in 2018 by Matt Senter and Alex Adelman, Lolli gives users free bitcoin when they shop at top retailers. The company currently offers up to 30% and an average of 7% bitcoin-back rewards at more than 1,000 top retailers and Fortune 500 companies like Kroger, Best Buy, Nike, and Ulta. Lolli users have earned more than $3 million in bitcoin rewards to date.
Noel-millerAshton-kutcherCasey-neistatIan-borthwickAlex-adelmanMichelle-phanPhil-defrancoGabriel-leydonCody-koMatt-senterFounders-fundKroger