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​Omocom, the microinsurance provider, raises €3.7 million in investment funding led by Mustard Seed MAZE

Omocom, the microinsurance provider, raises €3.7 million in investment funding led by Mustard Seed MAZE

and Inventure

Omocom provides ‘on-demand insurance’ to the rapidly growing Peer-to-Peer Sharing (PPS) Business to consumer rentals (B2C) and Re-Sale (RS) markets to augment trust between lenders/sellers and borrowers/buyers.

Omocom taps into the PPS market (predicted to be worth $335b by 2025)[1] and RS including fashion (predicted to be worth $51b by 2023).[2]

The average household in the US in 2007 had over 50 unused items at home worth $3,100.[3] 80% of household items are used less than once a month.[4]

The founding team’s primary experience in the Swedish government with a specific focus on trade policy relating to digitization and e-commerce as well as tech and business development.

The round also includes Alma Mundi Insurtech Fund, previous investors, Luminar and angels, incorporating know-how from Klarna, Izettle, and Spotify.

Stockholm/Lisbon, May 14, 2020 - Omocom, a startup offering tailored on-demand microinsurance solutions for the circular economy, announces today that they have raised €3.7 million from social impact fund co-led by Mustard Seed MAZE and Inventure, with the participation from Alma Mundi Insurtech Fund and Luminar. The company will use the investment to accelerate product development and growth into new verticals and out of the Nordics.

”We are delighted to continue backing Omocom in this round as they’ve really shown that they’re building a solution that’s needed in multiple verticals. Moreover, the need for their product is clearer than ever during times like these, when we expect more unemployment as well as more uncertain times in general. The fact that they keep breaking sales records mid-crisis goes to show that the need for circular processes is only going to expand, even with negative market development” Linus Dahg - Inventure

Circular processes mean, among other things, that we reuse or share existing resources instead of producing new ones. However, traditional insurance is fully adapted to a linear system and works poorly when things are not owned but rented, shared, or re-used.

To solve this problem, omocom has created a completely digital insurance solution that is integrated directly into the sales flow on online platforms, a microinsurance that is activated only while the items are being used. Omocom builds and develops digital systems for risk calculation, matching, design of insurance terms, and claims settlement specifically for this new environment.

Everything we do at omocom has the sole aim of using insurance to aid a transition to a more circular economy. We want to use insurance as a tool to drive sales on these circular platforms, thereby creating the conditions for products to be used more extensively and for a longer period. We are incredibly excited by getting our new investors on board because they understand this impact focus as well as the specificities of being an insurtech start-up.” – Ola Lowden CEO, omocom.

The current economic and consumption system is unsustainable. Every year we generate the equivalent to 125 000 jumbo jets worth of electronic waste,[5] while clothing utilization in China has decreased by 70% in the last 15 years,[6] and the average European car is parked 92% of the time.[7] By creating the right conditions for products to stay in use, omocom accelerates the shift to a circular economy while enabling new revenue streams as the most frequent users of peer-2-peer rental platforms earn £3000 or more in over a 30 day period.[8]

The sharing economy means that more sharing equals less consumption that equals less manufacturing. By reducing the risk of transactions, omocom increases the likelihood of effectively changing consumption patterns and helps break the cycle of purchasing items for non-use,” says Orson Stadler, Senior Principal at Mustard Seed MAZE, a Lisbon-based impact fund that invests across Europe. “We are excited to partner with good friends at Inventure and Luminar Ventures who have provided outstanding support and guidance to the omocom management team to date, as well as welcoming new partners in Mundi Ventures as part of this latest round of funding.”

Omocom was founded by Emanuel Badehi Kullander, Ola Lowden, and Tobias Mård in 2017. Together with researchers at leading universities in Sweden they developed risk calculation algorithms that enable omocom to make real-time risk assessments on digital platforms. Since the launch in October 2019 omocom are now live on 8 platforms and have over 15 000 customers.


Press contact:

Ola Lowden,, +4673-8380014

Notes to Editors:

About Omocom– Media contact: Ola Lowden,, +4673-8380014

Omocom is an affiliated distributor for W.R. Berkley Insurance Nordic and EIR Insurance. The mission behind omocom is to promote a more sustainable society by keeping products in use through circular business models. The company was founded by Emanuel Badehi Kullander, Ola Lowden, and Tobias Mård in 2017.

For more information, visit:

About Inventure – Media contact: Linus Dahg,

Inventure is a Nordic technology fund backing early-stage entrepreneurs. The fund is based in Finland and Sweden and invests in domains, making big bets on deep tech and scalable technologies. The fund leverages on its strong capital base to lead investments starting from initial seed-stage all the way through expansion. Inventure is currently investing from its third 120M€ fund. Over the past 10+ years, Inventure has invested in more than 50 innovative and high-tech startups since launching in 2005 in Finland, the Nordics and the Baltics, supporting innovative start-ups and high-tech companies. For more information, visit:

About Mustard Seed MAZE – Media contact: Orson Stadler, / António Miguel,

Mustard Seed MAZE is a social impact Venture Capital firm based in Lisbon and investing in bold entrepreneurs with sustainable business models across Europe. The fund wants to impact the way consumer and business decisions are made, by backing ideas and products that develop sustainable habits of consumption and production. The firm looks for audacious, committed and curious people and teams to fund, advise and network to their next level of growth and future funding rounds. Based in Lisbon and with €40M under management, Mustard Seed MAZE has invested in European-based startups such as Student Finance. For more information, visit:

About Alma Mundi Insurtech Fund – Media contact:

Mundi Ventures is a venture capital firm, based in Madrid, that invests in insurtech across Europe and Israel. They bring value to entrepreneurs by leveraging their LPs, leading European insurers and a global network, the so-called Mundi Club, of more than 750 C-level executives worldwide, from companies including Amazon, Cisco, Nokia, Telefónica, Intel, Schneider, and Paypal.. For more information, visit:

About Luminar - Media contact: Linda Höglund, Luminar Ventures is a Swedish based venture capital fund focused on early-stage start-ups with global scale and ambitions. Founded by experienced entrepreneurs and angel investors Magnus Bergman and Jacob Key, Luminar provides early-stage capital, network, and hands-on company-building support to leading start-up teams throughout Sweden helping them build the next global success stories. For more information, visit:

Additional References

[1]The Sharing Economy, pwc, 2017

[2]Resale Report, Thredup, 2019

[3]eBay/Nielsen Survey, EBAY INC., 2007

[4]Cities and the circular economy, Ellen MacArthur Foundation, 2019

[5]A New Circular Vision for Electronics, World Economic Forum, 2019

[6]A New Textiles Economy Redesigning Fashion’s Future, Ellen MacArthur Foundation, 2017

[7]Growth Within, Ellen MacArthur Foundation, 2015

[8]How to Become a Super Lender, Fat Llama, 2018

Relaterade länkar


  • Finans

Omocom is an insurtech company that provides insurance solutions to enable a circular economy. We build data driven models for risk calculation and claims management adapted for rental platforms.