Lili announced it has raised a $15 million funding round to accelerate growth as the American workforce is increasingly turning to freelance during COVID-19. The round was led by Group 11, with major participation from Foundation Capital, AltaIR Capital, Primary Venture Partners, Torch Capital, and Zeev Ventures. The funding brings the total amount raised to $25 million, following the company's seed round in June. The new capital will be used to support Lili's rapid expansion, as growth in the freelance economy has driven a 700% increase in transaction volume since the beginning of the pandemic. The company plans to use the funds to expand its product and engineering teams and accelerate customer adoption.

Lili is the all-in-one banking app designed for freelance workers. Combining banking services with real-time expense tracking, tax tools and financial insights, Lili empowers independent workers with the tools they need to stay in control of their finances while saving time and money.