Israeli freelancer banking app co Lili raises $55m

Lilac Bar David and Liran Zelkha,  / Photo: PR

Lili has doubled its account base in the past 6 months as more users pursue new, entrepreneurial endeavors.

Israeli mobile banking service for freelancers in the US Lili today announced the completion of a $55 million Series B financing round led by Group 11, with the participation of previous investors including Target Global and AltaIR. This brings total funding raised by Lili to $80 million, following a record year of growth and revenue for Lili.

Lili was founded by CEO Lilac Bar David and CTO Liran Zelkha, who previously founded Pepper, Bank Leumi's (TASE: LUMI) digital bank. Lili has doubled its account base in the past 6 months as more users pursue new, entrepreneurial endeavors and turn to Lili as a reliable resource for their growing businesses.

Bar David said, "Becoming an entrepreneur or freelancer - your own boss - is one of the most exciting life decisions you can make. We’ve created the tools you need to spend more time building your venture and less time on things that historically your employer would handle, like sorting expenses, managing financials, and filing taxes."

"Lili is currently the only fintech platform designed to address the needs of this rapidly growing sector of entrepreneurs," said Group 11 Founding Partner Dovi Frances. "We anticipate the freelancer economy will continue to robustly grow well beyond the pandemic tailwinds. Lili is poised to see exponential growth by continuing to offer this demographic essential, effective and intuitive tools to manage what was previously an extremely complex and inefficient way of doing business."

Published by Globes, Israel business news - en.globes.co.il - on May 10, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Lilac Bar David and Liran Zelkha,  / Photo: PR
Lilac Bar David and Liran Zelkha, / Photo: PR
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