Lemonade, a NYC-based peer to peer insurance company, received a significant investment from XL Innovate*.
In conjunction with the funding, whose amount was not disclosed, XL Innovate’s Managing Partner Tom Hutton joined Lemonade’s board.
The company will use the funds to prepare its New York launch.
Led by Daniel Schreiber, co-founder and CEO, Lemonade is a B-Corp peer to peer insurance company that replaces brokers with bots and machine learning.
The company, which recently hired senior insurance executives and behavioral economist Professor Dan Ariely, is also backed by Sequoia and Aleph VC.
FinSMEs
23/08/2016