Lemonade continues to expand in Europe

The unicorn of the insurance industry will also be present in France in the future. After Germany and the Netherlands, it is the third European market that Lemonade wants to conquer.

After Germany and the Netherlands, the US insurance start-up Lemonade is also expanding into France. In 2015, Daniel Schreiber and Shai Wininger founded the start-up in New York, which was considered a great hope. It was able to raise investor money quickly. It went public this year and is valued at four billion dollars.

In France, Lemonade is now up against its local competitor Luko, which has raised 74 million euros to date and has 100,000 customers. But Lemonade says it is prepared and has optimized its offering: Registration for new customers and payment of insurance sums should therefore work even faster. In addition, customers' premiums are to be donated after deduction of their claims. Customers can decide to which charitable organization they should be donated.

Perhaps the expansion of the product range is also a reaction to the somewhat bumpy start on the German market, for which a lot was invested in marketing, but sales were still slow. In 2019, Lemonade launched in Germany with household and liability insurance, but according to a report by Finance Forward, only 20,000 users had downloaded the app after a few weeks. However, Lemonade itself is satisfied with the development in Germany. The start-up is still making losses internationally, with a total of 108 million US dollars in 2019 on a turnover of 67 million US dollars.