Hungarian insurtech startup Ominimo secured $22.5 million in a Series B funding round, raising its valuation to $1.6 billion within two years of launching. The company has become one of Europe’s fastest-growing insurtech unicorns.
The company launched in 2024 under the leadership of Dusan Komar, Dennis Weinbender, Laslo Horvath, and Kristina Kozina. Ominimo has expanded its customer base across Europe while maintaining profitability. Its strategy prioritizes sustainable growth over aggressive expansion, which has attracted investor confidence.
AI-Driven Insurance Model Fuels Rapid Growth
Ominimo’s business model centers on artificial intelligence and data analysis to transform motor insurance. The platform evaluates risk using hundreds of data points, far exceeding traditional insurers’ methods. This precision enables more accurate pricing and smoother operations.
Automation handles underwriting and claims management, cutting costs and speeding up service. The system adapts by learning from customer interactions, improving its accuracy over time. Financial results reflect this efficiency: annualized gross written premiums jumped from €26.3 million in 2024 to €307 million today.
Nearly one million customers now use the service in Hungary, Poland, the Netherlands, and Sweden. Operations will soon begin in Belgium and Romania, followed by Spain, Italy, and France. The team has grown from 40 employees to 130, with plans to reach 150 by the end of the year.
Related: Mahama Names Strategic Investor for Revived Volta Star Textiles
Regulatory Changes and U.S. Expansion Plans
Ominimo currently functions as a managing general agent, managing pricing and claims while partner insurers handle underwriting risk. The next step involves obtaining its own insurance license, which would increase profits and control over product design. However, this move demands significantly higher regulatory capital.
Management aims to launch Ominimo’s insurance services in the United States market by 2027.
The jump to unicorn status in just two years stems from technological advances and collaborations with insurers like Signal Iduna and DA Direkt.
Few insurtech firms achieve profitability while scaling. Ominimo’s ability to grow without sacrificing margins distinguishes it as it prepares for further expansion.
