- Ominimo raised $22.5 mn in Series B funding led by EBRD, reaching a $1.6 bn valuation about two years after launch.
- The company’s annualised gross written premium run-rate increased 12x, from €26.3 mn in 2024 to about €307 mn, with nearly 1 mn customers across four European markets.
- Ominimo operates as an MGA with carrier partners, but plans to use part of the funding to secure its own insurance licence and retain more underwriting economics.
Serbian-Hungarian insurtech Ominimo has raised $22.5 mn in Series B funding, reaching a $1.6 bn valuation about two years after launch.
The Budapest-based company said the round was led by the European Bank for Reconstruction and Development’s venture capital arm. The deal gives EBRD exposure to one of Europe’s fastest-growing insurance technology companies and marks a rare insurtech unicorn backed by a development bank.
Ominimo has so far sold policies only in Europe. Its annualised gross written premium run-rate has climbed from €26.3 mn in 2024 to about €307 mn today. That is a 12x increase, and the company now serves nearly 1 mn customers across Hungary, Poland, the Netherlands and Sweden.
EBRD’s previous unicorn exits, including PandaDoc, DocPlanner and PicsArt, took several years to reach that status. Ominimo did it in roughly two.
EBRD’s venture arm usually invests between €2 mn and €30 mn in early and growth-stage technology companies across Central and Eastern Europe, the Middle East, North Africa and Central Asia. The mandate goes beyond backing fast consumer fintech growth. It aims to support economic development in transition markets, which makes Ominimo’s rise more relevant for the insurance sector.
Ominimo’s model helped it scale without taking on the full balance-sheet load of an insurer. The company operates as a managing general agent. It prices risk, manages customer relationships and handles claims, while partner carriers carry the underwriting risk.
Those partners include Signal Iduna in Hungary and DA Direkt, Zurich Insurance Group’s German unit, in Poland, the Netherlands and Sweden.
Ominimo was founded in 2024 by former McKinsey consultants and mathematicians Dusan Komar, Dennis Weinbender and Laslo Horvath, together with co-founder Kristina Kozina.
The company says it uses hundreds of data points to price risk, compared with the five or six variables often used by traditional insurers.
That pricing approach has drawn attention because motor and personal lines insurers across Europe still rely on older rating models, fragmented data and slower underwriting systems.
For most of the last 2 years, we weren’t optimising for the fastest possible rollout or chasing short-term growth. We were building the foundations for a company 2 orders of magnitude larger than the one we have today: the team, the technology, the data platform and the operating model.
Dusan Komar, Founder and CEO of Ominimo
“Insurance is one of the world’s largest industries, yet much of it still relies on technology and pricing approaches developed decades ago. Advances in computing, artificial intelligence and data science have created a once-in-a-generation opportunity to fundamentally reshape how risk is understood, priced and managed. That opportunity is why Ominimo exists”, Dusan Komar says.
Ominimo is betting that data science and automation give it a sharper view of customer risk. We think the question now shifts from growth speed to loss-ratio durability as the company enters larger markets.
Some of the new capital will go toward securing Ominimo’s own insurance license. That would let the company retain more economics now shared with carrier partners. It would also increase regulatory capital needs.
The company would need to set aside roughly 20 cents of capital for every euro of premium underwritten.
The comparison with WeFox follows Ominimo everywhere. WeFox once stood as Europe’s best-funded insurtech with a $4.5 bn valuation, then moved into divestments and emergency financing after rapid expansion ran ahead of underwriting discipline.
Ominimo is trying to tell a different story: profitable since its Hungarian launch, still profitable at Series B and expanding with more control over risk selection.
That claim matters because European insurtech investors have become less forgiving. Growth without underwriting profit no longer carries the same magic. Honestly, the market got burned.
Ominimo plans to enter Belgium and Romania this summer. Spain, Italy and France are next on the expansion list, with a US launch targeted for 2027.
The team has grown from 40 to 50 last year to 130 today, with a target of 150 by year-end. Two-thirds of employees work in data science or software engineering. The company says its staff includes eight mathematics olympiad medalists.
Ominimo said its Series B valuation represents a 7x increase from last year’s Series A. The company framed the past two years as a period spent building the team, technology, data platform and operating model needed for a far larger business.
The company also plans to add new lines of business over the next 18 months. Management said advances in computing, AI and data science have created an opening to change how insurers understand, price and manage risk.
According to Beinsure analysts, Ominimo’s valuation rests on two unresolved tests. First, whether its pricing model holds up as it moves from smaller and mid-sized European markets into larger, more competitive ones. Second, whether taking more underwriting economics through its own license improves margins without dragging the company into the capital strain that many full-stack insurers know too well.
Ominimo thanked Zurich Insurance Group for its partnership and EBRD for backing the round as a pragmatic investor. The next stage now looks harder: keep the underwriting discipline, enter bigger markets and prove that a $1.6 bn valuation isn’t running ahead of the insurance fundamentals.
