Serbian-Hungarian insurtech Ominimo has secured $22.5 million in a Series B funding round, achieving a remarkable $1.6 billion valuation. The round was led by the venture capital arm of the European Bank for Reconstruction and Development (EBRD). This investment catapults the two-year-old startup to unicorn status, signaling strong investor confidence in its disruptive and profitable model.
A Data-Driven Approach to Insurance
Founded in 2024, Ominimo is transforming the motor insurance sector with its highly segmented, data-driven pricing models. The company leverages proprietary technology and advanced data science to improve pricing accuracy and automate operations. This innovative approach provides a simpler and more efficient experience for its customers across its active European markets.
Fueling Unprecedented Growth
Ominimo has demonstrated explosive growth, with its annualized gross written premium run-rate soaring from €26.3 million in 2024 to approximately €307 million today. The company has successfully acquired nearly one million customers while maintaining profitability since its launch. This financial discipline distinguishes it from many competitors in the high-growth technology sector.
The new capital is earmarked for strategic acceleration rather than funding daily operations, a testament to the company's profitable business model. Ominimo plans to use the investment to secure its own insurance license, a crucial step toward capturing more value. This move will allow it to transition from a managing general agent to a full-stack carrier.
Strategic Expansion on the Horizon
With the fresh funding, Ominimo is set to embark on an ambitious international expansion plan. The company will enter several new European markets, including Belgium, Romania, Spain, Italy, and France. Furthermore, it is actively preparing for a highly anticipated launch in the United States, which is slated for 2027.
Supporting this expansion is a focus on attracting top-tier talent, particularly in data science and software development. The team, which already includes several Mathematics Olympiad medalists, is expected to grow to 150 employees by year-end. This investment in human capital is central to maintaining the company's technological edge and innovation pipeline.
A New Model for Insurtech Success
Ominimo's strategy of prioritizing sustainable growth and profitability offers a stark contrast to other insurtechs that have struggled after rapid, undisciplined expansion. The company's success provides a compelling case study for building a resilient business in a competitive market. This disciplined approach has been a key factor in attracting strategic investors like the EBRD.
The leadership of a development bank like the EBRD in this round is a significant milestone for the industry. It underscores the viability of Ominimo's model and its potential to drive economic development in the region. This partnership validates the company's mission to fundamentally reshape how risk is understood and managed globally.
This $22.5 million funding round solidifies Ominimo's position as a leading force in the global insurtech landscape. With a $1.6 billion valuation and a clear roadmap for expansion and technological innovation, the company is well-equipped for its next chapter. Ominimo's journey from a new startup to a profitable unicorn in just two years sets a new benchmark for success.