How a Hungarian-Serbian Fintech Became a Billion-Dollar Unicorn in Two Years

The Hungarian-Serbian fintech firm Ominimo has closed a Series B funding round at a 1.4 billion euro valuation, led by the European Bank for Reconstruction and Development (EBRD), according to Forbes.hu. The rapid expansion follows an earlier investment by Zurich Insurance Group, positioning the data-driven insurance platform for aggressive global scaling outside of Europe.

Series B Valuation and EBRD Backing

Ominimo secured its unicorn status with a 1.4 billion euro valuation in its latest funding round led by the EBRD, as reported by Forbes.hu. This milestone comes just a year after Zurich Insurance Group backed the startup with a 10 million euro investment at a 200 million euro valuation. According to Ominimo founder and CEO Dusan Komar, the company combines extraordinary growth with disciplined underwriting and a high-quality insurance portfolio to continuously attract major investors. Komar stated to Forbes.hu that the five-year goal is to build one of the world’s most valuable risk management platforms, targeting a portfolio exceeding 10 billion dollars.

Aggressive Global Expansion Plans

Ominimo chose aggressive growth over organic expansion, aiming to enter multiple international markets simultaneously. Holding growth lead Gábor Zsarnóczi told Forbes.hu that the company plans to launch in Romania and Belgium over the summer, followed by Italy, France, Spain, and the Americas. The United States expansion will proceed state-by-state, with a targeted launch in the first half of 2027. Zsarnóczi noted that the firm typically captures about 30 percent of new sales in foreign markets where it operates, focusing primarily on combined compulsory motor liability and casco policies in countries like the Netherlands and Sweden.

Data-Driven Underwriting Model

Rather than relying solely on traditional risk factors like age, vehicle type, and location, Ominimo leverages alternative public data to price policies. Zsarnóczi explained to Forbes.hu that publicly available financial data, such as tax payment habits, helps identify risk differentials of 3 to 4 percent. However, processing these complex databases requires significant technical resources. According to Zsarnóczi, four data researchers spent six months extracting useful variables from a single Polish central system, demonstrating the high technological barriers traditional insurance giants face when attempting legacy system overhauls.

Financial Performance and Partnerships

Ominimo registered 1,7 milliárd forints in revenue for its second year in Hungary, while recording a net loss of 115,3 millió forints primarily driven by financial operations, including an unbooked liability of 227,9 millió forints owed to its local underwriting partner, Signal Iduna Biztosító, according to company filings reported by Forbes.hu. Despite these accounting figures, DBX Kft. co-founder Sándor Székely noted to Forbes.hu that Ominimo stands out as the first insurtech since Netrisk to produce visible revenue in the regional market.

Frequently Asked Questions

What is Ominimo’s valuation?

According to Forbes.hu, Ominimo closed its Series B funding round at a 1.4 billion euro valuation.

Who led Ominimo’s latest investment round?

The European Bank for Reconstruction and Development (EBRD) led the funding round, as reported by Forbes.hu.

Which insurance partner does Ominimo work with in Hungary?

Ominimo partnered with Signal Iduna Biztosító for its market entry and operations in Hungary, according to Forbes.hu.

What are Ominimo’s international expansion targets?

According to holding growth lead Gábor Zsarnóczi, Ominimo plans to expand into Romania, Belgium, Italy, France, Spain, and the Americas, including the United States, Brazil, and Mexico.

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