24.01.2019 | Israeli company Lemonade’s income Increased to $57 Million in 2018
As every year, Israeli insuretech company Lemonade issued its annual transparency report, including detailed information on the company’s financial status. According to the report, the company’s income in 2018 was USD 57.2 million – an impressive increase compared with its reported income of USD 10.1 million in 2017.
Founded in 2015, Lemonade offers possessions insurance for home and apartment owners, using a model similar to peer lending, in which the customers themselves guarantee their peers’ insurance policies. The company has raised over $180 million to date. Notable investors are SoftBank; Google Ventures; American venture capital fund General Catalyst; Thrive Capital (owned by Josh Kushner, co-owner of one of the biggest digital insurance firms in the US and brother of Jared Kushner); Task capital, a company specializing in regulatory affairs; Sequoia Capital; the Aleph fund; and XL Innovate, XL Insurance Company’s investment fund.
Both Lemonade and Aleph are represented by our firm’s High Tech Department, headed by Att. Daniel Chinn.
This article was translated courtesy of Tomedes Translation