Life insurer SoFi has partnered with insurtechs Lemonade and partners to expand its insurance offerings . Lemonade will provide SoFi customers with home and renters insurance , while Root will provide auto insurance . Prior to this deal , the San Francisco - based firm exclusively offered life insurance through Ladder . The new products will be simple and transparent , eliminating the need for agents , and tailored in response to customer desire for affordable general insurance , according to SoFi . The firm recently announced a $ 25 offer for life insurance customers to invest in SoFi stocks , ETFs or roboadvising . SoFi has raised $ 2bn from 11 funding rounds .
Life insurer SoFi has partnered with insurtechs Lemonade and Root to expand its insurance offerings. Lemonade will provide SoFi customers with home and renters insurance, while Root will provide auto insurance. Prior to this deal, the San Francisco-based firm exclusively offered life insurance through Ladder. The new products will be simple and transparent, eliminating the need for agents, and come in response to customer desire for affordable general insurance, according to SoFi. The firm recently announced a $25 offer for life insurance customers to invest in SoFi stocks, ETFs or roboadvising. SoFi has raised $2bn from 11 funding rounds.