Serbia has marked a significant milestone in its tech ecosystem with the emergence of its first unicorn startup, Ominimo. The company, which specializes in AI-driven insurance products, has reached a market valuation of $1.6 billion following a successful Series B funding round. The European Bank for Reconstruction and Development (EBRD) participated in this round, underscoring the international interest and confidence in Ominimo’s business model and growth potential.
Founded in 2024 by Dušan Komar and Laslo Horvat from Serbia, alongside Denis Vajnbender from Germany, Ominimo has rapidly expanded its operations across four European markets. The company has ambitious plans to enter six additional EU markets and the United States within the next year. This expansion strategy is supported by Ominimo’s innovative approach to insurance, utilizing artificial intelligence, advanced mathematical models, and data analysis to assess risks more accurately, price policies, and build a robust insurance portfolio.
Ominimo’s growth trajectory is notable, with the company amassing nearly one million users and an annual business volume exceeding $350 million. This makes Ominimo one of the fastest-growing tech companies in the global insurance sector. The startup’s success is not only a testament to its innovative products but also highlights the potential of Serbia’s tech ecosystem to produce globally competitive companies.
The achievement of unicorn status is seen as a pivotal moment for Serbia’s startup landscape. Dušan Komar, one of the founders, emphasized the broader implications of this success, stating, “When a country gets its first unicorn, international investment funds start to view that country differently, and the chances of producing new large startups increase.” Komar also expressed a desire to continue attracting young Serbian talent to tackle complex AI challenges within the insurance and finance sectors, offering them opportunities to build careers in a globally relevant company without needing to move abroad.
Ominimo’s workforce is predominantly composed of Serbian data scientists and software engineers, with development centers located in Novi Sad and Belgrade. The team consists of over 100 employees, two-thirds of whom are data scientists and software engineers, with an average age of just 25. These young professionals are among the top mathematicians and programmers of their generation, many of whom have won medals at prestigious international knowledge competitions, including the International Mathematical Olympiad.
The company’s commitment to nurturing local talent is further demonstrated through its collaboration with the Serbian Mathematical Society to sponsor the country’s participation in the International Mathematical Olympiad. Additionally, Ominimo has organized hackathons in partnership with the Faculty of Mathematics at the University of Belgrade, resulting in employment offers for the top-performing students. The company also donates IT equipment to universities and provides scholarships to outstanding students in Novi Sad and Belgrade.
Bruno Lusic from the EBRD praised Ominimo as one of the most impressive insurtech companies they have evaluated, citing the combination of exceptional growth and strong business foundations. The EBRD’s involvement in the funding round signals a long-term partnership aimed at supporting Ominimo’s continued development.
Despite its rapid success, Ominimo operates profitably from its inception, a rarity in the global startup scene. The company’s valuation has seen a remarkable increase from $230 million in April 2025 to $1.6 billion, reflecting investor confidence and the scalability of its business model.
Ominimo’s rise to prominence is a significant development for Serbia’s tech sector, which has historically faced challenges in attracting investment and talent. The company’s success story could potentially pave the way for more international investments in Serbian startups, fostering an environment conducive to innovation and growth. However, the broader Serbian startup ecosystem continues to grapple with regulatory hurdles and the need for reforms to support local enterprises effectively.
