Lemonade valued at $2bn following $300m funding round
US renters and homeowners insurance start-up Lemonade is now believed to be valued at over $2 billion after a $300 million investment round, reports Jane Connolly.
The fintech company has raised $480 million to date. Although Lemonade hasn’t disclosed its valuation, Forbes reports that a source claims this latest investment, led by SoftBank Group, brings the company’s value to more than $2 billion.
Allianz, General Catalyst, GV, OurCrowd and Thrive Capital also participated in the current funding round.
The company’s co-founder Daniel Schreiber says: “We’re not looking to create a small technology vendor or something else in this space. We’re looking to create a dominant and technologically enabled insurance company on a global basis.”
Lemonade was launched in 2016 and offers a mobile and online platform for low-cost insurance solutions. Currently operating in 22 states and Washington, DC, Lemonade now plans to expand into Europe and other US states.