Omocom provides on-demand microinsurance tailored to sharing, rental and resale platforms in the circular economy, activating coverage only while items are being used. The company developed algorithms with Swedish university researchers to produce real-time risk assessments for digital platforms. Omocom launched its business in October (year implied by the article) and reports about 15,000 customers. The startup was founded in 2017 and is led by CEO Ola Lowden and co-founders Emanuel Badehi Kullander and Tobias Mård. The fresh funding will be used to develop the product further, expand into new verticals, and enter markets outside the Nordics. Omocom positions insurance as a tool to reduce transaction risk and increase reuse and longer product lifecycles on circular platforms.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

May 2020