How This InsurTech Hit a $1.6 Billion Valuation in Just Two Years

Jan de Vries · 2026-07-27

### The Unicorn That Came Out of Nowhere You might not have heard of Ominimo yet. But this Serbian-Hungarian InsurTech startup just pulled off something most companies only dream of. They hit unicorn status two years after launch. And here's the kicker: they're already profitable. Ominimo recently closed a Series B funding round with the venture capital arm of the European Bank for Reconstruction and Development (EBRD) at a $1.6 billion valuation. That's not a typo. They went from zero to $1.6 billion in 24 months. ### What Makes Ominimo Different? Founded in 2024 by Dusan Komar, Dennis Weinbender, and Laslo Horvath, Ominimo isn't your typical insurance company. They sell motor insurance, but they do it differently. The secret sauce? Highly segmented, data-driven pricing and proprietary insurance tech. Think of it this way: most insurers use broad categories to set prices. Ominimo uses math. Serious math. They employ eight Mathematics Olympiad medalists and one Physics Olympiad medalist. About two-thirds of their 130-person team works in data science or software development. "We combine insurance expertise, data science and software development to improve pricing accuracy, automate insurance operations and deliver a simpler customer experience," the company says. ### The Numbers Are Staggering Let's talk growth. Ominimo's annualized gross written premium run-rate has gone from $30 million in 2024 to $180 million in 2025. Today, it sits at roughly $350 million. That's more than 10x growth in two years. Their Series A, which closed in 2025 at a $200 million valuation, attracted Zurich Insurance as both a strategic distribution partner and minority shareholder. That kind of backing from a traditional insurance giant tells you something about their potential. ### What's Next for Ominimo? The company isn't using this new capital to keep the lights on. They're already profitable. Instead, they're investing in growth: - Securing their own insurance license - Entering new European markets - Preparing for a U.S. launch in 2027 - Developing new insurance products - Investing in AI and technology - Recruiting top data scientists and developers They launched in Hungary in 2024 and quickly expanded to Poland, the Netherlands, and Sweden. Next up: Belgium, Romania, Spain, Italy, France, and eventually the United States. ### The Takeaway for InsurTech Watchers Ominimo proves you can build a profitable unicorn without burning cash on customer acquisition. Their approach is methodical. They use data to price risk better than competitors. They automate operations to keep costs low. And they're expanding into markets where their model can scale. For U.S. readers, the 2027 launch is the date to watch. If Ominimo can replicate its European success stateside, it could shake up the $300 billion U.S. auto insurance market. ### Why This Matters for EU Inc Ominimo's story is a case study in what's possible under the right regulatory and funding conditions. The company benefited from the EU's open market and access to capital from institutions like the EBRD. As the EU Inc proposal gains traction, we could see more startups following Ominimo's playbook: launch in a smaller market, prove the model, raise smart money, then scale across borders. For now, Ominimo is a reminder that the best startups don't just grow fast. They grow smart.