Partnerships Will Allow Online Merchants to Seamlessly Manage Their Finances
Lili, the financial platform designed for small business owners, announced the launch of a new suite of tools to help online merchants grow and scale their businesses. Through Lili Connect Lili’s embedded finance integration leading eCommerce platforms can now offer their customers tailored banking1, accounting and tax solutions to help them simplify and manage their businesses’ finances.
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According to PYMNTS Intelligence, 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 rapidly, traditional banking and accounting solutions fail to meet the unique 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.
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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 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.
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“eCommerce entrepreneurs drive innovation and growth in the U.S. small business community, and they need financial tools that keep up with their pace,” said Lilac Bar David, co-founder and Chief Executive Officer of Lili. “We’re excited to partner with leading eCommerce platforms to provide online merchants with seamless, integrated financial solutions that simplify banking, accounting, and payments—so they can focus on growing their business.”
“Partnering with Lili allows us to give WooCommerce merchants quick access to their funds with ConvesioPay, at no additional cost—unlike other providers who charge for funding transfers,” said Convesio CEO Tom Fanelli. “This seamless integration ensures that merchants can set up their Lili account effortlessly during onboarding, making cash flow management easier than ever.”
“We are joining forces with Lili to offer an even better experience for our customers,” said Domantas Patinskas, Head of Business Unit at Hostinger. “This partnership helps freelancers, small business owners, and online sellers – especially those using WooCommerce – get their businesses up and running faster. Instead of managing separate providers, customers get a smoother set up for both hosting and finance, saving time and effort.”
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.
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Source – PR Newswire
