Freelancer banking app Lili raises $15m

All-in-one banking app for freelance workers Lili has announced that it has raised a $15 million financing round led by Group 11, with participation from Foundation Capital, AltaIR Capital, Primary Venture Partners, Torch Capital, and Zeev Ventures. This brings to $25 million the total amount raised by the company, its seed round in June.

The investment will be used to support Lili’s rapid expansion, as growth in the freelance economy increased 700% since the beginning of the pandemic and there are now an estimated 60 million freelancers in the US alone.The company will expand its product and engineering teams and accelerate customer adoption.

Lili was founded by CEO Lilac Bar David and CTO Liran Zelkha, who previously founded Pepper, the digital bank of Bank Leumi (TASE: LUMI).

Lili combines banking services with real-time expense tracking, tax tools, and financial insights so freelancers can stay in control of their finances.

Bar David said, “We believe the future of work is freelance, and as the pandemic has recently changed everything about how people approach their careers, the American workforce’s shift toward independence has accelerated even faster than we anticipated. Our mission is to empower freelancers to better manage their money and businesses, and we’ve seen exponential growth in demand over the past several months, as more people are looking for all-in-one financial solutions that are tailored to the unique ways they work. We are looking forward to expanding our product suite and market leadership while providing freelancers with an unparalleled banking experience.”

Published by Globes, Israel business news – – on October 25, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

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