Ominimo Reaches €1.4B Valuation After Two Years in Motor Insurance

Most young insurers spend their early years explaining when they might turn a profit.

Ominimo has taken a different approach. The Serbian-Hungarian motor InsurTech reached a €1.4 billion valuation just two years after launching, while claiming that the business is already profitable. Its latest Series B round was completed with the venture capital arm of the European Bank for Reconstruction and Development.

The amount raised, reported at €20.1 million, is relatively modest compared to the valuation. That is part of what makes this deal notable. Ominimo is not presenting the capital as a means to cover losses or extend its runway. The company states it will use the funds to obtain its own insurance license, enter more European markets, create new products, enhance its use of AI, and prepare for a US launch in 2027.

Founded in 2024 by Dušan Komar, Dennis Weinbender, and Laslo Horvath, Ominimo develops motor insurance products using highly segmented pricing models and proprietary software. The company combines insurance underwriting, data science, and automation to assess risk more accurately and simplify policy management.

This approach first gained traction in Hungary before the company expanded into Poland, the Netherlands, and Sweden. It is now preparing to enter Belgium, Romania, Spain, Italy, and France, followed by the United States.

The pace of growth is hard to overlook. Ominimo states its annual gross written premium run rate increased from around €26.3 million in 2024 to €157.8 million in 2025, and currently stands at approximately €306.8 million. These figures are company-reported, but they help explain why investors have given such a high valuation this early.

The business remains highly technical. Ominimo employs around 130 people, with about two-thirds working in software development or data science. The company plans to increase its workforce to around 150 by the end of the year.

Its earlier Series A round, completed in 2025 at a €200 million valuation, brought Zurich Insurance into the company as a strategic distribution partner and minority shareholder. The leap from €200 million to €1.4 billion in just over a year shows strong confidence in Ominimo’s growth, but also raises expectations.

Expansion will test whether the same pricing discipline works in larger and more complex insurance markets. Regulatory requirements, claims behavior, customer acquisition costs, and local competition vary widely from country to country.

Ominimo has already shown that a profitable digital insurer can grow quickly in Central and Eastern Europe. Its next challenge is proving that the model is just as effective in other markets as it is in software.

Source : EU-Startups