Lemonade IPO

Lemonade, one of the most prominent Insurtechs in the US, has filed an S-1 for an initial public offering (IPO) on the New York Stock Exchange (NYSE).

Co-founded by CEO Daniel Schreiber and Shai Wininger, Lemonade seeks to disrupt the traditional insurance market with consumer-friendly plans and a heightened degree of transparency. Lemonade provides renters and homeowners insurance to a good number of US states with plans to cover the entire country. Last year, Lemonade announced the expansion into Germany in advance of a rumored IPO.

The wording of the S-1 foreshadows expansion into other European countries including the UK. Chatter had previously pegged an IPO at raising up to $500 million at a $2 billion valuation. The company had about 730,000 customers at the end of Q1 2020 doubling versus the same quarter year prior.

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