Covid-19: App-based broker Lenny closes down after backers exit
Short-term car insurance broker says the Coronavirus outbreak made it a "frustratingly unfavourable landscape" to find a new backer.
Insurtech broker Lenny has announced it is closing its operations following the coronavirus outbreak, Insurance Age can reveal.
In a statement on the broker’s website, chief executive officer Karin Nielsen, said: “It’s with a real heavy heart I need to let you know that Lenny is now closed forever.
“Like most start-ups we need cash to help us get off the ground, pay our team and keep the lights on.
“Unfortunately, our backers are no longer in a position to provide us with the funding we need
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop