Lemonade secures up to $250M financing from Hannover Re for growth spend through 2028

Lemonade, Inc.

Hannover Re will provide up to $150M in 2027 and up to $250M in 2028 for sales and marketing (Growth Spend).
Financing covers up to 80% of monthly Growth Spend, max $20M per customer cohort; repayments based on premium collections.
Return rate is the greater of 0% or 3-year U.S. Treasury rate plus 5.8%.
After full repayment, Lemonade retains all future premiums from financed cohorts.

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