Lili was founded in 2018 by Lilac Bar David and Liran Zelkha.[3][4]
The platform’s user base grew significantly during the COVID-19 pandemic, reaching nearly 100,000 accounts by the end of that year. In October 2020, Lili secured a $15 million Series A round to support this growth.[5]
In May 2021, Lili raised an additional $55 million in a Series B round, bringing its total funding to $80 million. By that time, the company had surpassed 200,000 users.[6] Later that year, Lili introduced its paid subscription plans, offering advanced financial tools and features for business owners.[7]
In 2022, Fast Company named Lili one of its "World's 50 Most Innovative Companies."[7]
In 2024, TearSheet announced Lili as the best bank for SMBs.[8] On August 13, 2024, Lili announced a partnership with Dun & Bradstreet to provide small business owners with tools and insights to start building and tracking their business credit.[9]
In 2025, Lili announced a shift in its target audience, moving away from freelancers and repositioning its product to serve small businesses. As part of this shift, Lili increased its FDIC insurance coverage to $3 million.[10]
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