Both Lemonade (NYSE: LMND) and Upstart (NASDAQ: UPST) made their stock market debuts in 2020. And although shares in these two businesses did well early on, it's been a completely different story in the past couple of years. Lemonade is down about 77% since going public, while Upstart's stock is down a whopping 94% from its all-time high. That's not what shareholders were hoping for. 

But there's no doubt that these are innovative companies with the potential for outsized long-term returns. So, which of these fintech stocks is the better buy right now? Let's take a closer look at the bullish cases for both before coming to a conclusion. 

Lemonade is trying to change the game of insurance by using artificial intelligence (AI) to better serve customers. The company uses data and machine-learning models to constantly improve all aspects of its operations. In fact, 98% of Lemonade's policies are not sold by a human, with the goal that this automation will reduce costs. Right now, Lemonade offers renters insurance, homeowners insurance, car insurance, pet insurance, and life insurance, which combined create a massive market opportunity. 

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Source Fool.com