“Can a tax-native SMB banking platform built on BaaS rails become the financial OS for small business owners and distribution partners through embedded finance?”
Founded in 2018 as a mobile banking app for U.S. freelancers, Lili built its differentiation around tax automation (Tax Bucket, Schedule C pre-fill) layered on top of a Sunrise Banks-sponsored checking account. As the platform matured, it expanded beyond freelancers to SMBs more broadly, adding international payments, credit building, accounting tools, and bill pay. In late 2024, Lili launched Lili Connect, pivoting partly toward a B2B embedded finance distributor model where it white-labels its banking and accounting stack into partner platforms—most notably partnering with Dun & Bradstreet.
Lili Bank discloses Sunrise Banks, N.A. as its banking provider, according to the Embedded Finance Index 2026.
Lili Bank does not disclose a bank charter of its own; its banking services are provided through Sunrise Banks, N.A..
Lili Bank moves money over ACH.
Lili Bank's cards are issued through Sunrise Banks, N.A..
Lili Bank uses unit21 for KYC and identity verification.
Lili Bank connects to bank accounts through Plaid.
Lili Bank uses Column Bank N.A. for FX and cross-border payouts.
Lili Bank integrates with QuickBooks Online and Xero.
The Embedded Finance Index 2026 maps 8 layers in Lili Bank's stack: Money movement (ACH); Banking / BaaS (Sunrise Banks, N.A.); Card issuing (Sunrise Banks, N.A.); Open banking (Plaid); KYC (unit21); Sponsor bank (Sunrise Banks, N.A.); FX & payouts (Column Bank N.A.); Accounting (QuickBooks Online and Xero).
Lili Bank was founded by Lilac Bar David (CEO) and Liran Zelkha (CTO) and is founded in 2018, headquartered in New York, NY, USA.
Lili Bank has raised ~$80M in total (latest round: Series B, May 2021).
Get a read on where your own stack stands against Lili Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.