Lemonade expands customer investment financing to $200M for 2026 growth

Lemonade, Inc.

Amended customer investment agreement increases 2026 commitment from $140M to $200M for sales and marketing.
Investors provide up to 80% of Growth Spend; repayment continues until 16% IRR is achieved.
Previous agreement: up to $150M through Dec 2024 and $140M for 2025; new amendment covers 2026.
Financing backed by Reference Income from customer cohorts; retains standard representations and covenants.

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