Lemonade raises $300m in Recent Funding Round led by SoftBank Group

BFSI News

Lemonade-raises-300m-in-Recent-Funding-Round-led-by-SoftBankGroup Lemonade raises $300m in Recent Funding Round led by SoftBank GroupLemonade, a New York City, NY-based property and casualty insurance start-up offering US renters and home-owners insurance policies for their homes, apartments, co-ops, and condos, as per recent reports, after the recent $300 million investment funding round, now have a total net worth of over $2 billion.

The New York-based insurance start-up Lemonade has to date raised $480 million in funding. Although the fintech start-up is yet to disclose its valuation, reports are circulating that with this latest investment funding round, led by SoftBank Group, the company’s total valuation is expected to exceed $2 billion. The recent investment funding round also saw participation from Allianz, General Catalyst, GV, OurCrowd, and Thrive Capital.

Lemonade’s co-founder Daniel Schreiber states: “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, launched earlier in 2016, is renowned for its mobile and online platform offering for low-cost insurance solutions. The New York-based fintech is currently active in 22 states and Washington, DC, all across the US, and now plans on expanding its operations into Europe and other US states, to make its presence known on a global scale.