Cyprus-based startup Placy has raised €1 million in pre-seed funding. The company is developing an AI-powered virtual assistant that aims to streamline the process of buying and selling real estate. Placy ’s virtual assistant automates tasks such as valuation, market research, arranging viewings, and preparing documents, allowing realtors to focus on sales.
Placy was founded 10 months ago in Limassol by former employees of CIAN (one of the world’s leading real estate portals) and Wargaming . Cyprus was chosen as a pilot market, but in the future the company plans to expand to Greece, the UAE and the UK.
According to Viktor Denisevich, investment director of Zubr Capital , the main focus when making the investment decision was on the project team. He emphasized that Placy brought together professionals with successful experience in working on large projects, which became a decisive factor in supporting the startup.
Placy aims to eliminate inefficiencies and data overload in the real estate industry using artificial intelligence technology. This makes the transaction process simpler, faster, and more efficient. According to Placy CEO Mike Vasiliev, the main challenge today is to double the productivity of the real estate industry before the competition does.
The company’s founder, Sergey Osipov, who has lived in Cyprus for nine years, noted that this country has unique conditions for launching innovative solutions in the real estate sector due to its open market, active community and high commission rates.
Placy partner Alexey Alexandrov emphasized that artificial intelligence will not lead to a reduction in the number of real estate agents, but, on the contrary, will allow solving more problems with the existing team, expanding the client base and attracting foreign buyers.
The company’s chief commercial officer, Sotiris Komodromos, added that the implementation of technology is not aimed at optimization, but at increasing sales. The tools that Placy offers allow realtors to increase sales while reducing costs and efforts.
The startup plans to automate up to 50% of realtors’ tasks, reducing the costs of these processes by 25%. This will help preserve the realtor profession, creating new opportunities for further development.
Zubr Investments Capital will be directed to the development of the Placy product Pro – solutions for automating business processes of real estate agencies. The company also intends to improve the functionality of integration with WhatsApp and Telegram messengers for the convenience of interaction between landlords, buyers and sellers.
Financial support for Zubr Capital will strengthen the startup’s position and accelerate its entry into international markets. The company has already established itself in Cyprus, winning innovation awards and becoming part of Microsoft Startup Hub in the USA.
