CB Insights today named Lili to the fourth annual Fintech 250, a prestigious list highlighting emerging private companies that create groundbreaking financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York City.
“This is the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are attacking an incredibly diverse array of financial services opportunities across 19 sectors, including digital banking, insurance, payroll, retail investing, and more,” said CB Insights CEO Anand Sanwal. “After being named to the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 get acquired. They also went on to raise over $25B in additional financing and forged more than 380 new partnerships after being recognized. The Fintech 250 has a history of spotlighting the very best fintech companies, and this year is no different. We’re excited to see how these fintech startups disrupt and transform financial services in the years ahead.”
“With over 60 million independent workers in the United States and many more looking to join the movement, freelancers are the future of the American workforce,” said CEO Lilac Bar David. “As an underserved, misunderstood and yet essential population of working individuals, we want to make sure freelancers have access to tailored tools and services they need to thrive and grow their business. We are thrilled to be recognized as one of the most innovative fintech companies by CB Insights as we tackle the unique financial challenges facing freelancers.”
As COVID-19 ushered people across different generations towards freelancing, Lili grew at an exponential rate over the last 12 months to serve and educate new freelancers. Lili’s customer base has grown to over 375,000 customers, representing a 1,500% growth from this time last year. As a response to direct feedback Lili received from the freelancer community, Lili launched a premium product earlier this year, Lili Pro, which at $4.99 per month gives users access to additional financial tools like free overdraft and interest bearing savings and sophisticated business solutions like unlimited invoicing. As a testament to the success of Lili Pro, roughly half of Lili’s new customers are immediately opting in for the premium Lili Pro service.
Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies, including applicants and nominees. They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
Lili is an all-in-one banking app designed for freelancers and side-hustlers, combining a checking account with a set of essential business tools. With no minimum balance and fee-free overdraft, Lili also provides self-employed workers with an invoicing software, a tax planning solution and an expense management feature to optimize their tax refund. Every freelancer knows good bookkeeping boils down to keeping track of 4 things: invoices, payments, receipts and spending. Lili lets you now manage it all in the same place. Led by serial entrepreneurs with 20 years of fintech experience, CEO Lilac Bar David and CTO Liran Zelkha, Lili is backed by Group 11, Foundation Capital, AltaIR Capital, Primary Venture Partners, Torch Capital, and Zeev Ventures. Founded in 2018, Lili is headquartered in New York and serves customers in all 50 states. Banking services are provided by Choice Financial Group Inc., a Member FDIC. To learn more, visit Lili.co.
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
Naomi Hung, Bevel