Lili, a startup building banking products to meet the needs of freelance workers, is announcing that it has raised $10 million in seed funding.
The startup takes its name from its founders, CEO Lilac Bar David and CTO Liran Zelkha, who previously founded Israeli challenger bank Pepper. Bar David told me that while many neobanks have emerged over the past few years, most of them “are very focused on the consumer side.”
More broadly, she suggested that no traditional banking solutions are really designed to solve the problems faced by freelancers — whether they’re designers, programmers, fitness instructors, chefs or beauty professionals. She described Lili as the first “all-in-one” solution, offering both a bank account and a broader suite of financial tracking tools.
The account comes with a Visa business debit card and is unencumbered by account fees, overdraft fees, foreign transaction fees or minimum balance requirements. Bar David said Lili only makes money from card processing fees, which means “we will make money whenever you’re making money.”
Lili also supports direct deposit, saying it provides access to payments up to two days earlier than a traditional bank. And to help freelancers manage their finances, there’s a tool for tracking and