Lili, a New York-based mobile banking startup aimed at freelancers and independent contract workers, has raised $10 million in seed funding led by Group 11. 

The startup was founded in 2018 and launched its FDIC-insured banking service in 2019, under a partnership with Choice Financial Group Inc. Lili offers an app-based digital banking services with expense tracking, tax management and financial insight tools and has thousands of freelancers currently using the service.

"With this new $10 million [in] seed funding, we plan to grow our customer base, further build out our product to address the pain points of independent workers even better, and expand our product, marketing and operations teams," Lilac Bar David, co-founder and CEO of Lili, told Mobile Payments Today via email.

She said the company plans to build out more products for savings and taxes.

Bar David and co-founder and CTO Liran Zelkha are 20-year serial entrepreneurs and previously founded Pepper, the largest challenger bank in Israel.

Foundation Capital, AltaIR Capital, Primary Venture Partners and Torch Capital participated in the round.