Lili, a banking app for American freelance staff, has raised $15 million in a Collection A funding spherical led by Group 11.
Lili is considered one of a number of startups focusing on an enormous and quick rising market: there are practically 60 million freelancers within the US and Covid-19 has seen 12% of the workforce going solo this 12 months.
Lili is providing these individuals an app that mixes banking providers with real-time expense monitoring, tax instruments, and monetary insights.
Arrange by the founders of Israeli digital financial institution Pepper, Lili says it has already seen freelancers throughout dozens of industries and all 50 states open accounts through its iOS and Android apps.
With a 700% improve in transaction quantity because the starting of the pandemic, the corporate plans to make use of the brand new funds to develop its product and engineering groups and speed up buyer adoption.
Lilac Bar David, CEO, Lili, says: “We consider the way forward for work is freelance, and because the pandemic has not too long ago modified all the things about how individuals strategy their careers, the American workforce’s shift towards independence has accelerated even sooner than we anticipated.
“Our mission is to empower freelancers to higher handle their cash and companies, and we’ve seen exponential progress in demand over the previous a number of months, as extra persons are on the lookout for all-in-one monetary options which can be tailor-made to the distinctive methods they work.”