Lemonade has ‘immaterial’ exposure to SVB closure
Lemonade has said that it has “immaterial” exposure to any liquidity concern at Silicon Valley Bank (SVB), following the news of the venture capital provider’s closure.
The company added that it currently has less than $7,000 in cash at SVB, significantly below the insured limit of $250,000 granted by the Federal Deposit Insurance Corporation (FDIC), according to a regulatory filing.
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