Serbian insurtech startup Ominimo said on July 27 it had raised a Series B funding round that valued the company at $1.6bn, making it the country's first startup to achieve unicorn status.

The round included the investment arm of the European Bank for Reconstruction and Development (EBRD), the company said.

Founded in 2024 by Serbians Dušan Komar and Laszlo Horvat together with Germany's Denis Weinbender, Ominimo uses artificial intelligence, data analytics and mathematical models to develop insurance pricing and risk assessment products.

The company operates in four European markets and plans to expand into six more European Union countries and the United States over the next year.

"This is a milestone not only for Ominimo but also for Serbia's startup ecosystem," chief executive Dušan Komar said. "A country's first unicorn changes how global investors view that market."

Ominimo said it employs just over 100 people, most of them software engineers and data scientists based in Novi Sad and Belgrade.

The company said it has attracted nearly one million users and generates more than $350mn in annual business volume. It added that it has been profitable since launch, an uncommon feat among venture-backed startups.

The latest funding round increased Ominimo's valuation almost sevenfold from $230mn following its Series A financing in April 2025.

"Ominimo is one of the most impressive insurtech companies we have evaluated, combining exceptional growth with strong business fundamentals," said Bruno Lusic of the EBRD's investment arm.