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Omocom is a Swedish insurance technology firm that develops and integrates embedded insurance solutions directly into partner platforms. These offerings enable comprehensive protection for a range of assets, including vehicles, homes, and various items, specifically catering to the needs of the burgeoning sharing and circular economy across Europe. Their technology allows partners to seamlessly provide insurance coverage for their users' renting, sharing, or lending activities.
The company was founded in 2017 by Ola Lowden, stemming from the crucial insight that traditional insurance models were ill-equipped to support the dynamic nature of the sharing and circular economy. Omocom was established with a clear mission to facilitate the safe and sustainable sharing of resources, thereby addressing a significant gap in the market for flexible and integrated insurance products.
Omocom primarily serves businesses operating within the circular economy, encompassing a diverse array of sharing and rental platforms requiring tailored insurance. Its core mission is to cultivate trust within the circular economy through intelligent and scalable insurance solutions designed for contemporary ownership and usage patterns. The company envisions a future where safety and sustainability are harmoniously integrated, with sharing and reuse becoming fundamental aspects of daily life.
Omocom has raised $5.0M across 2 funding rounds.
Omocom has raised $5.0M in total across 2 funding rounds.
Omocom has raised $5.0M across 2 funding rounds. Most recently, it raised $4.0M Seed in May 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2020 | $4M Seed | — | Foobar.vc, Inventure, Mustard Seed, Chris Murphy | Announced |
| Apr 1, 2019 | $1M Seed | — | Foobar.vc, Inventure, Mustard Seed, Chris Murphy | Announced |
Omocom is a Swedish insurtech company specializing in embedded insurance solutions for circular business models, such as rental platforms for vehicles, accommodations, premises, and goods in transit.[1][5] It develops automated, digitized micro-insurance products that integrate directly into partners' platforms, targeting companies with at least 1,000 rentals per month across Europe, in partnership with insurers like W.R. Berkley Insurance Nordic, Dina Försäkring AB, and Baloise Holding AG.[1] Omocom serves B2C platforms in the sharing economy, solving the problem of trust and risk in rentals and second-hand purchases by providing scalable, user-friendly coverage that promotes sustainable consumption—addressing 45% of greenhouse gas emissions from product production through resource-sharing incentives.[2][3][4] With 11-50 employees, ~$6.1M revenue, and recent authorization as a licensed insurance undertaking by the Swedish FSA, Omocom shows strong growth momentum in FinTech.[3][6]
Founded in 2017 in northern Sweden (Piteå), Omocom relocated its headquarters to Stockholm while maintaining an office in Piteå, evolving from an insurance intermediary to a full-fledged insurtech pioneer.[1][5][6] Ola Lowden, the Founder and CEO, leads the company, with early backing from accelerators like Sting (2018 cohort), where it was highlighted for redefining insurance via digital micro-insurance and user data control—positioning itself as a "bank for personal data."[2] The idea emerged from the need to enable circular economy platforms with seamless insurance, gaining early traction through Propel Capital investment and supervision by the Swedish Financial Supervisory Authority.[1][2] A pivotal moment came with its successful FSA authorization as an insurance company, advised by Magnusson law firm, solidifying its role in sustainable insurance.[6]
Omocom stands out in insurtech through these key strengths:
Omocom rides the embedded insurance and circular economy megatrends, where insurtech disrupts legacy models by integrating coverage into apps for sharing platforms like rentals and second-hand markets.[1][2][4][6] Timing is ideal amid EU sustainability mandates and rising demand for climate-friendly consumption—45% of emissions stem from production, making trust-enabling insurance critical for scaling circular models.[3] Market forces like digitalization, regulatory support (e.g., FSA licensing), and FinTech accelerators (Sting) favor Omocom, positioning it to influence the ecosystem by pioneering micro-insurance that accelerates resource-sharing adoption across Europe.[1][2][6]
Omocom is poised for expansion as a licensed insurer, likely scaling partnerships and product lines for circular platforms amid growing ESG pressures.[6] Trends like AI-driven personalization, deeper EU cross-border insurance harmonization, and circular economy mandates will propel it, potentially evolving into a data-sovereign insurtech leader.[2] Its influence may grow by inspiring copycats and shaping policy, reinforcing its high-level mission to embed insurance that sustains the planet—turning risk into a circular economy catalyst.[1][3]
Omocom has raised $5.0M in total across 2 funding rounds.
Omocom's investors include foobar.vc, Inventure, Mustard Seed, Chris Murphy.
