Lemonade, a NYC-headquartered peer-to-peer insurance startup founded by Israeli entrepreneurs Daniel Schreiber (formerly the president of Powermat) and Shai Wininger (a co-founder of Fiverr), has raised $13 million in a first (!) round of funding.
The capital comes from Tel Aviv-based Aleph, which was co-founded by former Benchmark Capital partner Michael Eisenberg, and Sequoia Capital.
“Most Americans view insurance as a necessary evil rather than a social good, and that’s something we’d like to change,” said Schreiber, who serves as the fintech company's CEO.
“It is very unusual for a company to receive $13 million in an initial round of funding,” added Sequoia Capital partner Haim Sadger. “But it is rarer still to find such accomplished founders tackling such a sizeable industry with such a compelling solution. We’re betting Lemonade will transform the insurance landscape beyond recognition. It is one to watch.”
Duly noted!
Would you like to write the first comment?
Login to post comments