Feeless banking app for freelancers Lili Raises $10M

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Lili an all-in-one banking app for freelancers have raised $10 million in a funding round aiming to provide modern workers with the tools and services needed to balance work and life. Lili will be using the Funds raised to continue expanding their platform and product as well as their marketing and operations teams.

“We’ve built the only solution that truly enables freelancers to holistically manage their bank accounts and their expenses for work and life, saving them up to 60 hours and $1,700 per year,”
– Lilac Bar David, CEO, Lili

There are almost 60 million freelancers in the U.S. contributing a huge amount to the American workforce and the tools freelancers have available to them is important to the success of their businesses. Lili claim they are the first to mix banking with real-time expense tracking, tax tools and financial insights meaning freelancers can keep track of everything financial in one single place – great for those who want to focus their time into the growth and running of their business.

Lili’s key product features in its iOS and Android apps include:

  • No account fees, minimum balance requirements, overdraft fees or foreign transaction fees
  • Free access to 38,000 ATMs across the country
  • Early direct deposit; provides access to payments up to two days earlier than with traditional banks
  • Free expense management tool that allows users to track spending and categorize expenses in real time with a quick swipe
  • Tax savings tool that automatically puts aside a percentage of income in a “Tax Bucket” sub-account
  • Visa Business debit card and mobile check deposits
  • Real-time mobile alerts and insights on all income and expenses
  • Instantly send and receive money through mobile payment apps like Cash App and Venmo
  • Immediately receive funds directly from online marketplaces like Etsy and Shopify

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