The fintech industry is one of the fastest-growing industries in the world and it just created hype among financial investors in no time, especially in disruptive companies. Check the fintech stocks which can give you the best potential to produce a 10x return for the next few years. 

Lemonade can be compared to SoFi in the insurance industry as both of them provide greater opportunities for disruption and indeed the companies are nailing the industry!

According to the discussion, SoFi has power in itself which can help the business going even if it calls out some of the products, on the contrary, Lemonade needs to have car insurance to make it work. Moreover, they are required to have newer insurance verticals to keep them working, otherwise, there would be no way to justify the ongoing evaluation. If one of these companies does pan out, then 10x should be based on a $40 billion valuations which will be called the legacy of insurance companies. 

Lemonade can focus on its mainstream to keep it growing as auto insurance majorly has the potential of 10x to give returns to the investors. 

Regarding Lemonade, Frankel stated that, 

“Other than Lemonade, SoFi definitely has potential. It’s not that small of a company. Market cap is about a little under $12 billion right now. That means SoFi would have to become about the size of Square (NYSE:SQ) to become a 10-bagger. Not impossible at all.”

Lemonade has previously become the best IPO debut as it closes the stock at $69.41 in the NYSE.