Placy Raises €1 Million in Pre-seed Round
The Cypriot AI Startup Is Already Making Waves in the Field of Real Estate.
Artificial Intelligence is revolutionizing virtually every industry, especially in people-centric sectors like real estate sales. Placy, an AI-powered virtual associate, is at the forefront of this transformation redefining how properties are bought and sold. From property valuations and market research to scheduling viewings and drafting agreements, Placy automates routine tasks, enabling real estate professionals to focus on what they do best—closing deals.
Founded just 10 months ago in Limassol by former colleagues from CIAN (a top-10 global property portal and NYSE unicorn of 2021) and Wargaming, Placy has quickly made its mark. Cyprus serves as a pilot market, with plans to expand into Greece, the UAE, and the UK.
The company recently secured a substantial €1 million funding round led by Zubr Capital, marking a major milestone in its growth trajectory. This investment will propel Placy forward in two critical areas: scaling Placy Pro, its white-label B2B AI tool, and accelerating research and development for Placy Assistant, a B2C solution tailored for private sellers and buyers.
“The main challenge in real estate today is to double productivity before the competition does. Automation is crucial for survival and growth”, says Mike Vasiliev, CEO of Placy.
“When asked if AI will replace real estate agents, I say: we’re not here for optimization, we’re here for growth,” adds Sotiris Komodromos, Placy’s Commercial Director. “Our tools are designed for savvy professionals who aim to double their sales with a fraction of the effort”.
Earlier this year, Placy was named Startup of the Year in Cyprus and joined the US Microsoft Startup Hub. This latest investment marks another step toward its mission: revolutionizing the real estate industry with AI.
