Placy secures 1 million euros in pre-seed financing

Cyprus-founded PropTech startup plans to expand to Greece, the UAE and the UK with fresh funding

Limassol, Cyprus, September 2, 2024 - Cyprus-based PropTech startup Placy has raised €1 million in a pre-seed funding round. The investment is led by Zubr Capital, a private equity firm focused on IT and technology investments, and aims to accelerate the startup's business growth through the development of its AI-powered solutions.

Placy uses artificial intelligence to automate time-consuming tasks in the real estate industry, including property valuations, research, scheduling viewings and creating client contracts. The technology is designed to free up real estate professionals and allow them to focus more on the individual needs of their clients.

Expansion and further development

The startup, which was founded 10 months ago by former colleagues from CIAN (a leading global real estate portal) and Wargaming, is using Cyprus as a pilot market and plans to expand to Greece, the United Arab Emirates and the UK in the future.

The biggest challenge in the real estate industry today is to double productivity before the competition does. Automation is the key.

Mike Vasiliev, CEO of Placy

The pre-seed investment will be used to strengthen two main areas: Firstly, to further develop Placy Pro, a B2B SaaS tool for agencies and brokers. Secondly, the core functions of the B2C tool Placy Assistant, which enables seamless integration with WhatsApp and Telegram, are to be improved. This should make communication between buyers, sellers and landlords much easier.

Support from Zubr Capital

Zubr Capital is a European investment company that specializes in promising IT companies and supports them in their internationalization. The company has previously supported successful projects such as Palta and MediaCube and sees great potential for the real estate sector in Placy.

As a leading source of funding, we focus first on the team behind a project. At Placy, we have found a group of professionals who have already implemented successful projects in the past

Viktar Dzenisevich, Investment Director and Partner at Zubr Capital

Placy has already made a name for itself with several awards, including "Startup of the Year" in Cyprus and inclusion in the Microsoft Startup Hub. With the new financial injection, the company aims to further revolutionize the real estate market and set new standards.