Lili Adds Third-Party Integrations for SMBs

Small business banking platform Lili is helping small- to medium-sized businesses (SMBs) grow a bit larger and faster with the rollout of new payment solutions and third-party integrations, according to a Thursday (June 16) press release.

Lili has debuted a new app center, where entrepreneurs can connect their accounting software platforms, payment apps and marketplaces, including Etsy and Shopify, to the Lili app, the release stated.

The company has also launched an upgrade to Lili Pro’s integrated Invoicing Software, allowing businesses to customize their invoices in a few clicks, manage their customer lists and accept all methods of payments for their services from debit and credit card via Stripe to payment apps including Venmo, PayPal and CashApp, checks, cash and automated clearing house (ACH), according to the release.

Additionally, Lili has added Deepesh Jain as chief financial officer and chief operations officer and Richard Weil as the company’s first chief lending officer.

“As more people join the workforce as small business owners, we are thrilled to offer a full suite of products so they can spend more time doing what is important — running and growing their businesses,” said Lili Co-Founder and CEO Lilac Bar David in the release. “By building our payments offerings, we are able to continue on our mission of supporting an entire generation of small businesses… This consolidation of tools will build Lili into an even more thorough, financial one-stop shop for small business owners.”

In July, Lili debuted its premium service called Lili Pro, the company’s first expansion since its launch in 2020. It was created in response to the acceleration of the gig economy during the pandemic.

Read more: Freelancer Banking Platform Lili Unveils Premium Service

The company said an estimated 59 million Americans identified as freelance workers in 2020, more than a third of the nation’s workforce, contributing $1.2 trillion to the U.S. economy in yearly earnings.