Lili, a financial platform designed for small business owners, announced the launch of a suite of tools to help online merchants grow and scale their businesses.
Through Lili Connect—Lili’s embedded finance integration— eCommerce platforms can now offer their customers “tailored banking, accounting and tax solutions to help them simplify and manage their businesses’ finances.”
According to the latest research, nearly “8 in 10 small businesses rely on an online store to drive sales, with eCommerce playing an increasingly vital role in the economy.”
In 2024, U.S. eCommerce sales reached “$1.192 trillion, accounting for 16.1% of total retail sales—an 8.1% increase from 2023, according to the U.S. Census Bureau.”
As eCommerce continues to grow steadily, traditional banking and accounting solutions fail to meet the “needs of these businesses, such as managing frequent transactions, seamless access to store revenue, and supporting cross-border payments.”
Consequently, tailored financial tools are “increasingly critical for their success.”
Now, through Lili Connect’s new eCommerce partners—including Convesio, North Commerce, and Hostinger—online merchants “can open a business checking account directly within their platform.”
This integration provides instant access to “store earnings, automated bookkeeping and tax management, and efficient international payment solutions, streamlining financial operations for growing businesses.”
Moreover, as online merchants juggle “multiple responsibilities like managing their online store, handling inventory, and overseeing their finances, simplifying their day-to-day operations is crucial for staying competitive in a rapidly changing eCommerce landscape.”
With WordPress powering over “40% of websites, many small business owners rely on it as the foundation of their online stores.”
Recognizing this trend, Lili’s WordPress plugin reportedly “integrates financial management directly into their daily operations.”
This solution allows business owners to “track earnings, manage expenses, and access banking tools– all from one unified platform — enhancing operational efficiency and financial oversight.”
Lili’s eCommerce solution marks the latest “offering from Lili Connect, which launched in 2024.”
Recently, Lili also introduced bank accounts for “eligible non-U.S. residents with U.S. businesses through Lili Connect.”
Lili will continue to develop and adapt its financial solutions “to support the evolving needs of eCommerce entrepreneurs, ensuring they have access to the tools necessary to manage their businesses effectively.”
Founded in 2019 by financial and tech industry veterans Lilac Bar David and Liran Zelkha, Lili is a financial platform intended specifically “for businesses, offering a combination of advanced business banking with built-in accounting and tax preparation software to help business owners better streamline and simplify their finances.”
Backed by Group 11, Foundation Capital, AltaIR Capital, Primary Venture Partners, Torch Capital, Target Global and Zeev Ventures, Lili is headquartered in New York and “serves customers in all 50 states.”
Banking services are provided by Sunrise Banks, N.A., Member FDIC.