InsurTech Lemonade has announced its US IPO plans for July.

In Brief:

• It aims to raise the capital on the US stock market.

• The IPO is set to be led by Goldman Sachs, Morgan Stanley, Barclays PLC and Allen & Co.

• It expects a post-money valuation of under $1.5bn.

What does this mean?

The business was founded in 2015 and is already backed by tech giant SoftBank Group. Lemonade had had published its prospectus in early June but will now go public in July, due to Covid-19 related delays.

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