New York-based banking application company, Lili has raised $10 million in a seed funding round which was led by Group 11 along with participation from Foundation Capital, AltaIR Capital, Primary Venture Partners and Torch Capital. The funds raised will be used for building the platform further and expand it, marketing and its operations.

Lili is a banking application which is used by freelancers. It combines banking services which is capable of real-time expense tracking, tax tools and financial insights giving freelancers the control of their finances. According to the CEO Lilac Bar David, this application can save freelancers with 60 hours and $1700 per year through the use of application’s financial management.

“We’ve analyzed the challenges of the modern worker in all aspects of banking, taxes, expenses and savings and have created an easy-to-use mobile app that helps them thrive in today’s ever-changing work environment,” said Lilac Bar David, CEO of Lili.