Ominimo announced the closing of its Series B round at a $1.6 billion valuation, with the European Bank for Reconstruction and Development serving as lead investor. Just over two years after launch, the company said it is approaching one million customers across four European markets and has already surpassed an annualized $350 million in gross written premium.
Ominimo is an insurance company that has built its business around a data science and software engineering-driven approach to underwriting and customer acquisition, positioning itself as a technology-first challenger in the European insurance market. The company said the round reflects confidence in its team, which it described as bringing together one of the highest concentrations of data science, software engineering, and insurance talent in Europe, crediting that team for the growth and scale the company has reached in just over two years since launch. Ominimo also credited Zurich Insurance Group as a partner in its journey and described EBRD as an exceptionally founder-friendly and pragmatic investor to work with throughout the fundraising process.
With the new funding, Ominimo plans to accelerate its expansion across its existing European markets, launch new lines of business beyond its current offerings, and enter the U.S. market in 2027, marking the company’s first move into insurance outside of Europe. The Series B is expected to support that broader international push as the company looks to build on the customer and premium growth it has achieved so far.
KEY QUOTE:
“This is a strong vote of confidence in our vision and in our remarkable team. We have been fortunate to assemble the highest concentration of data science, software engineering and insurance talent in Europe, and this milestone belongs to every one of them.”
Ominimo statement
