Lili

Lili is an American digital bank launched in 2019 aimed at freelancers. The service helps freelancers save up to 60 hours and up to $1700 per year due to the convenience and lack of payments for many services, Lili claims. Together with the account, the user receives a Visa debit card for business. The company does not charge a fee for overdraft or international transactions and does not set the amount of the minimum balance on the account. The startup earns only from processing payments.

With Lili, you can control your expenses, make transactions using a debit virtual card, generate quarterly profit reports, and use the tax tools of your region. The application is used by more than 200 thousand people (by May 2021), most of them are women.

History

2021: Raising $55 million, including from AltaIR Capital

In May, 2021 AltaIR Capital investment company which founder  yavlyaetsyaigor Ryabenky  and also investors of AltaClub invested in Lili. The Series B financing round was held in the amount of $55 million, which was headed by Group 11. Also involved in the transaction were a large American investment fund Target Global, funds Zeev Ventures and Foundation Capital.

The startup intends to spend the funds raised to expand the capabilities of its product. In particular, it is planned to add credit functions.

Russian AltaIR Capital invested in a digital bank for freelancers

We provide services to a new type of user - freelancers. They are between retail consumers and businesses and have specific needs. Given what the economy and labor are going to, these are the needs that need to be met, "said Lili co-founder Lilak Bar David.

According to TechCrunch, by May 2021, about 40% of Americans work freelance, and by 2027 their share may exceed 50%.^[1]

Notes