By Robert McGarvey

In a very few minutes—under three—on a slow Friday afternoon, I opened and funded a banking account with Lili. Lili is a startup that has won a lot of buzz (plus $25 million in venture funding) in the space of a few short months.

Read all about Lili here and here and here.

Finextra describes Lili this way: “Lili is one of several startups targeting a huge and fast-growing market: there are nearly 60 million freelancers in the US and Covid-19 has seen 12% of the workforce going solo this year.

Lili is offering these people an app that combines banking services with real-time expense tracking, tax tools, and financial insights.”

Lili, it is said, already has 100,000 users.

Frictionless Banking Is Today’s Must-Have

Think frictionless, niche, and something that sets out to solve an obvious problem (tracking tax deductible expenses). Lili wants not to be all things to all people, but to target a specific segment with a problem. That is brilliant new business development strategizing.

Keep reading at the CU2.0 blog