Cyprus-based Piney raises €1.6M from 33East to expand property operations to the US
Piney, a Cyprus-founded property operations startup, has secured €1.6 million in investment from Cyprus-based venture capital firm 33East, joining Uni.fund and Venteri Capital in the latest funding round. This investment supports Piney's expansion from Europe into the United States, marking its entry into the Miami market. The funding brings Piney's total raised capital to €2.8 million.
Founded in 2022, Piney manages operational services for over 5,000 short- and mid-term rental properties across six countries, including Spain, Portugal, Greece, Cyprus, France, and the US. The company uses its proprietary technology platform and an AI-enhanced workflow to streamline property management tasks such as cleaning, laundry, and guest amenities, reducing workload for property managers by up to 80%.
Piney founder and CEO Nicolas Chrysostomou highlighted the company's growth, emphasizing its nearly fourfold increase in managed properties in under two years and the role of AI in enabling rapid scaling. The recent funding will accelerate platform development and support further international growth, exemplifying Cyprus's potential as a proving ground for startups venturing into global markets.
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