Metromile SPAC IPO: Is Pay-Per-Mile Insurance The Future?
Metromile, a pay-per-mile car insurance startup founded in 2011and currently operating in 8 states, has announced they will be going public via a merger with special purpose acquisition company INSU Acquisition Corp. II. The deal sets Metromile’s valuation of $1.3 billion. Alex discusses Metromile’s plans to IPO and, while looking at the current competitive landscape, wonders why there’s not more pay-per-mile competition from larger insurance providers.
Originally Aired: 12/08/20
#Insurance #Auto #SPAC
Insurer Metromile Will Go Public Using a Blank-Check Company: www.bloomberg.com/news/articles/2020-11-24/insurer-metromile-reaches-spac-merger-deal
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