InsurTech startup omni:us secures €1.6m from the EU

Germany-based omni:us has been given €1.6m ($1.7m) by the European Commission to keep developing its machine-learning powered insurance claim platform.

omni:us will receive the funding from the European Innovation council over the next two years, according to Intelligent Insurer.

The money will be used to continue the company’s research and scale its team. The money comes on the back of an undisclosed Series A round in October 2018. At the time, omni:us had raised $22.5m in equity.

The InsurTech landscape is growing. There were almost 300 investment deals completed in Europe alone between 2014 and the first six months of 2019, according to FinTech Global’s research. These deals represent a total value raised of $2.6bn.

Copuright © 2019 FinTech Global

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