International law firm Bird & Bird has advised the European Bank for Reconstruction and Development (EBRD) on its investment in insurtech Ominimo’s Series B funding round.
The investment values Ominimo at €1.48 billion (US$1.6 billion), making it Serbia’s first technology unicorn, less than two years after being founded.
Having been valued at approximately US$230 million at its Series A round in May 2025, the company’s valuation has grown almost sevenfold in just over a year, driven by demand for its AI-powered motor insurance underwriting platform and its expansion across multiple European markets.
Headquartered in Novi Sad, Serbia, Ominimo was founded by Dušan Komar, Laslo Horvath and Dennis Weinbender, a team of former McKinsey consultants. The company has developed proprietary pricing technology that uses advanced data science and machine learning to assess risk more accurately than traditional insurers, allowing it to offer competitive premiums while maintaining strong underwriting profitability.
Having already established a strong position in Hungary and expanded into the Netherlands and Poland, Ominimo intends to use the proceeds of the Series B round to continue its international growth, including expansion into six additional European Union markets and entry into the United States over the next 12 months.
EBRD is a leading multilateral development bank that invests in private sector growth and sustainable economic development across Europe, Central Asia and neighbouring regions. Through its investments, EBRD supports innovative, high-growth businesses that contribute to the development of competitive and resilient economies.
The matter was led by Mark Rundall, Partner, supported by Benjamin Simon, Legal Director, and Charlotte Cato, Associate, from the Corporate team, and supported by our teams in Hungary, Sweden, Poland, Holland and Germany.
Mark Rundall commented:
“We were delighted to once again support EBRD on its Venture Capital team’s latest investment. Achieving unicorn status in less than two years is a remarkable accomplishment for Ominimo, and we look forward to seeing the business continue its international expansion.
The transaction reflects the strength of the European technology ecosystem and investor confidence in the AI-driven businesses transforming traditional industries. It also reflects Bird & Bird’s track record advising investors and high-growth technology businesses on complex cross-border venture capital deals, especially in sectors being reshaped by AI and innovation.”
