Lili Enables Businesses to Pay Vendors and Get Paid in Local Currencies

Capability Further Supports International Business Growth, Allowing Businesses to Make International Payments in 130 Currencies

NEW YORK--(BUSINESS WIRE)--Lili, the leading financial platform that offers business banking, credit building, and accounting solutions for small and mid-sized businesses, today announced a new feature that empowers small and mid-sized businesses (SMBs) to pay international vendors and receive payments in various currencies. This new capability further supports international business growth, enabling businesses to make international payments in 130 currencies so they can expand their businesses beyond U.S. borders.

Lili’s new feature aims to simplify cross-border payments by making international payments as easy as local transactions. According to McKinsey, most small and medium-sized enterprises need to expand internationally in order to grow; however, growth beyond their home front is often a challenge. Lili removes the financial complexity from international expansion by making payments simple, easy, and cost-effective.

“International commerce was once limited to large corporations that had the man-power behind them to manage the complexities of international transactions; however, Lili is removing those barriers for businesses of all sizes and simplifying the international payment process to help them grow beyond the U.S. market,” says Lilac Bar David, co-founder and CEO of Lili. “Now with our quick and cost-effective international payments in local currencies, SMBs have no limitations and can grow as far and wide as they choose.”

Earlier this year, Lili announced that they expanded their product offering to enable SMBs to make international payments to vendors and customers. The offering allows businesses to both pay and receive international funds in dozens of countries across North America, Europe, and Asia. Lili offers unlimited inbound transfers, high outbound transaction limits, enhanced security, and enables SMBs to pay or receive funds as quickly as 24 hours.

About Lili

Founded in 2019 by financial and tech industry veterans Lilac Bar David and Liran Zelkha, Lili is a financial platform designed specifically for businesses, offering a combination of advanced business banking with built-in accounting and credit building solutions 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. To learn more, visit lili.co.