Lemonade, Inc. (LMND): debt financing — 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.

item 1.01 item 2.03

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Lemonade, Inc. incurred debt of up to $200 million with GC Customer Value Arranger, LLC.

Principal: up to $200 million
Counterparty: GC Customer Value Arranger, LLC
Event: incurrence

Exact text from the filing

(the “Company”) entered into a Fourth Amended and Restated Customer Investment Agreement (the “Agreement”), with GC Customer Value Arranger, LLC, as Arranger on behalf of the Investors (the “Investors”).

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Lemonade, Inc. filing history →

Source: SEC EDGAR

accession 0001691421-25-000010

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