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
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