• liranzelkha

The first year of the future of banking for freelancers - A look back at 2019

A look back at what we did together in 2019. In short: we reinvented banking for freelancers 💪

“The days are long but the years are short.” If you’ve raised young children, you’ve probably heard that sentence before.

One year ago, a group of passionate entrepreneurs in technology and banking created Lili. 6 months later, on July 1, we opened our service to the public, and we’re not gonna lie, this year, the days have been long. But can you really expect anything else when you’re trying to build the banking of the future for the future of work? We don’t think so. On the other hand, the year went by like that [snap your fingers here].

So we felt it was important to take a moment to stop and look back at all we’ve accomplished this year. We actually highly recommend you do the same. Time goes by fast, and in the middle of it all you don’t always realize how much happens and gets done. Seriously, make a list of everything you’ve created, started or finished this year with your business, with your family, in your home... When you’re done, you won’t believe all of it happened in just one year.

We certainly couldn’t believe it when we realized that in just the half year since our launch more than 15,000 Lili accounts have been opened across all 50 states by freelancers from 30 different professional fields, everything from social media influencers to construction workers to food professionals. We published more than 25 blog posts, sharing financial tips and lifestyle advice with thousands of freelancers. (If you’ve missed them, our most popular were about the infamous “self-employed tax” and a series of tips to help you set the right price for your work.)

Our features also seem to have found great success with our customers. Within just one month of the launch of our auto-saving service on October 1, more than 50% of active account holders had opened a Tax Jar.

And what would Lili be without our signature expense categorization feature? We’re happy to report that 93% of transactions made with our Lili debit card are being categorized and 70% of them are being categorized on the day of the transaction, which really says more about you, your financial discipline and how you’re taking full advantage of our technology!

You don’t know how happy that makes us. We’ve always said that if you’re happy, we’re happy. And based on our average rating on the App Store of 4.7 out of 5 star, it looks like you’re happy.

We have a lot more coming in 2020: more technology, more services and more content to help you thrive in your freelancing career, so we don’t really expect the days to get any shorter. You know that feeling, right? Exhausted but excited and proud! 😉

The future gets built one year at a time, and 2019 was a great start. Thank you for being our customers. Enjoy the last few weeks of 2019, and we’ll see you in 2020.

#FutureOfBanking #TaxTime #LookBack #GetMoreFromYourDeductibles

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*Early access to direct deposit funds depends on the timing of payer’s submission of deposits. Lili will generally post these deposits on the day they are received which can be up to 2 days earlier than the payer’s scheduled payment date.