NEW YORK (Reuters) – Tech-driven insurance startup Lemonade Inc has signed a $300 million funding round led by Japan’s SoftBank Group Corp , the company said on Thursday.
Other investors included insurer Allianz SE, Alphabet Inc’s venture capital arm GV, General Catalyst, OurCrowd and Thrive Capital.
The company will use the funds to expand in the United States, launch in Europe and grow its product offering beyond home and rental insurance, Lemonade Chief Executive Daniel Schreiber said in an interview.
Lemonade, which started in New York in late 2016, is part of a growing number of young companies looking to shake up the insurance sector through better use of technology. It offers insurance in 25 U.S. states and markets itself as a company that has