Lili debuts new payment solutions and third party integrations

By Edlyn Cardoza

Lili, a leading financial one-stop shop for small business owners, combining banking, tax management and accounting software, recently announced an extension of its offering by adding payment solutions and third-party integrations. These new integrations come at a time when more new business applications are being filed than ever before in the history of the US economy, as an increasing number of individuals take control of their professional lives.

Lili’s mission is to create a fully integrated ecosystem where business owners can manage all the tools they need or already use in the same place. This week, Lili took another major step in fulfilling its mission by releasing a brand-new app centre, where entrepreneurs can connect their accounting software, payment apps, and marketplaces like Etsy or Shopify directly to the Lili app.

Lili is also announcing an upgrade to Lili Pro’s integrated Invoicing Software. Lili businesses are now able to customise the design of their invoices in just a few clicks, manage their customer lists on the go, and most importantly, accept all methods of payments for their services, from Debit and Credit Card via Stripe to Payment Apps like Venmo, Paypal, and CashApp, checks, cash & standard ACH.

Simultaneously, Lili has continued to expand the leadership team with strategic new hires in the C-suite to offer users an all-inclusive platform of offerings. Deepesh Jain joins the company as CFO and COO. With over 20 years of experience in banking and FinTech, Jain brings a wealth of knowledge from his time as Head of Treasury and Funding for Kabbage as well as traditional banking from Capital One and Barclays. At Lili, Deepesh is responsible for day-to-day financial operations and management and has led Lili’s growth into lending and payments, expanding Lili’s suite of tools and products to its customer base.

In addition to Jain’s appointment, Lili is announcing hiring Richard Weil as Chief Lending Officer. As the first to hold this position, Weil will work closely with Jain in building, launching, and growing Lili’s lending products and solutions. Weil has over 35 years of experience working in various risk management and marketing roles at several well-established banks and FinTechs. In his previous role, he served as Varo Bank’s Chief Credit Officer and helped build their lending business’s credit risk framework and policies.

“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 Lilac Bar David, co-founder and CEO of Lili. “By building our payments offerings, we are able to continue on our mission of supporting an entire generation of small businesses, encouraging them on their financial journey to become the great innovators of tomorrow. This consolidation of tools will build Lili into an even more thorough, financial one-stop shop for small business owners,” she added.

Lili is reinventing banking for the modern workforce. Small business owners are the backbone of America’s new economy, yet they remain largely underserved by traditional banks or charged expensive fees. This reflects the future of the workforce, as 50% of Gen Z freelanced in 2021, and today, full-time employees are quitting their 9-to-5 jobs at unprecedented rates. Lili’s commitment to creating approachable educational content and telling compelling stories about the small business experience in America provides impactful insights to the industry.