Serbia got its first "unicorn" in the form of Ominimo, the company announced. This one startup closed the Series B investment round with the participation of the investment branch European Bank for Reconstruction and Development (EBRD), reaching a market value of $1,6 billion. In the business world, a unicorn is a startup company worth over one billion US dollars, Nova Ekonomija writes.
Ominimo develops new generation insurance products using artificial intelligence, advanced mathematical models and data analysis in order to more accurately assess risk, determine policy prices and build a better quality insurance portfolio.
Ominimo was founded by Dušan Komar and Laszlo Horvat from Serbia, together with Dennis Weinbender from Germany. They started the business in 2024, and in a short time they expanded it to four European markets. In the next year, they plan to enter six more EU markets, as well as the United States market.
With a market value of 1,6 billion dollars, Ominimo became the most valuable insurance company in the territory of the former Yugoslavia and ranked among the most valuable companies in Serbia in general.
"This is a great moment, first of all for Ominimo, but I believe for the entire Serbian startup ecosystem as well. When a country gets its first unicorn, international investment funds start to look at that country differently, and the chances of new big startups emerging from it increase. Our desire is to continue attracting young talents from Serbia to join us in solving the most complex problems in the field of artificial intelligence in the world of insurance and finance and to build their career in a globally relevant company, without having to go to abroad", said Komar.
In less than two years, Ominimo has reached nearly 1 million users and annual revenue of more than $350 million, making it the fastest growing insurance technology company in the world.
"Ominomo is one of the most impressive insurtech companies we have evaluated so far, thanks to the combination of exceptional growth and strong business fundamentals. We are glad to be able to support the company in the next phase of its development and look forward to a long-term partnership on its further growth path," said Bruno Lusic from the EBRD.
The company has been operating profitably since its inception, which is extremely rare on the global startup scene. At the same time, in just over a year, since the Series A investment round in April 2025, the value of Ominima has increased from 230 million to 1,6 billion dollars.
"Today, the company employs a little more than 100 people, two-thirds of whom are data scientists and software engineers. The majority of the team consists of experts from Serbia who work in the Omini development centers in Novi Sad and Belgrade. They are young people with an average age of only 25 years. They are the best mathematicians and programmers of their generation, with an almost perfect grade average, among them are medal winners at the most prestigious international knowledge competitions, including the International Mathematical the Olympics", says Komar.
In cooperation with the Society of Mathematicians of Serbia, the company financed the preparations and the departure of the Serbian national team to the International Mathematical Olympiad both last year and this year. The first Ominimo Hackathon was organized with the Faculty of Mathematics of the University of Belgrade, after which 30 of the most successful students got jobs in the company. As announced, the company also donates IT equipment to faculties and awards scholarships to the best students in Novi Sad and Belgrade.
Source: Nova Ekonomija
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