Insurtech company Ominimo has announced the successful completion of its Series B funding round, boosting its valuation to $1.6 billion. This makes Ominimo the first insurance startup from Central and Eastern Europe to achieve unicorn status. The company did not disclose the amount raised in the round but confirmed that the European Bank for Reconstruction and Development (EBRD) was the lead investor.

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Ominimo is an insurtech company offering motor insurance solutions that leverage artificial intelligence and advanced risk modeling to assess insurance risk. It operates under the Managing General Agent (MGA) model, meaning it co-develops insurance products, manages distribution and claims handling, while a traditional insurer provides the actual insurance coverage. The company launched in Hungary in 2024 and has since expanded into four additional markets, including Poland, as previously reported by cashless.pl.

The newly raised capital will support Ominimo's further expansion into six additional European markets as well as the United States.

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The insurtech says that in less than two years it has acquired nearly one million customers, while its annual gross written premium (GWP) has exceeded $350 million. Poland has played a significant role in this growth. Within just one year of entering the Polish market, the company attracted 250,000 customers and now cooperates with more than 10,000 distribution partners.

In Poland, as well as in most of the other markets where Ominimo currently operates, the insurance partner is a company from the Zurich Insurance Group. The Swiss insurance group also became a minority shareholder in the startup last year.