U.S. Banking App For Freelancers Lili Secures $10 Million By Seed Funding Spherical

Lili, a U.S.-based cellular banking app particularly for freelancers, introduced on Wednesday it secured 10 million by way of its seed funding spherical, which was led by Group 11 with participation from Basis Capital, AltaIR Capital, Major Enterprise Companions, and Torch Capital.

Based in 2018, Lili reported that its checking account and cellular expertise was created to “assist stability work and life” with real-time expense administration and tax financial savings. The corporate reported that since its app’s launch,  ens of 1000’s of freelancers throughout dozens of industries and all 50 states have opened a Lili account.

“Whether or not they’re full-time unbiased staff or part-time freelancers, Lili’s clients span throughout many industries, from e-commerce store homeowners to designers, programmers, health instructors, building staff, cooks, magnificence professionals and extra.”

Lili’s app product options embrace:

• No account charges, minimal stability necessities, overdraft charges or overseas transaction charges
• Free entry to 38,000 ATMs throughout the nation
• Early direct deposit; supplies entry to funds as much as two days sooner than with conventional banks
• Free expense administration instrument that enables customers to trace spending and categorize bills in real-time with a fast swipe
• Tax financial savings instrument that routinely places apart a share of earnings in a “Tax Bucket” sub-account
• Visa Enterprise debit card and cellular examine deposits
• Actual-time cellular alerts and insights on all earnings and bills
• Immediately ship and obtain cash by way of cellular cost apps like Money App and Venmo
• Instantly obtain funds straight from on-line marketplaces like Etsy and Shopify

Funds from the seed spherical might be used to construct out the platform additional and develop the product, advertising and marketing and operations groups.