Cyprus-based real estate startup Placy raises €1M in pre-seed funding to accelerate growth

Cyprus-based tech startup Placy has secured $1.1 million (€1 million) in pre-seed funding to advance its AI-powered tool, which automates key tasks in the real estate industry, including property valuations, research, viewing schedules, and agreement drafting.

Zubr Capital, a European fund regulated by CySEC and known for investing in high-potential IT companies with global aspirations, led the funding round. Zubr Capital has also backed successful ventures like Palta, a health tech company, and MediaCube, a fintech platform for creators.

Over the years, real estate transactions have involved multiple steps that require streamlined operations to ensure informed decision-making. Placy aims to enhance this process, benefiting everyone from individual sellers to large real estate agencies.

Placy will use the fresh capital infusion to further develop its Placy Pro, a white-label SaaS tool designed for B2B integrations, tailored for agencies and agents. The funds will also enhance Placy’s primary features, enabling seamless integration with platforms like WhatsApp and Telegram for landlords, sellers, and buyers. Additionally, Placy will invest in research and development for Placy Assistant, a B2C tool that simplifies communication between property seekers and sellers.

Placy, Your AI Real Estate Assistant

Founded by CEO Mike Vasiliev, Placy is pioneering automation in the real estate sector, freeing up professionals to focus on the specific needs of their clients. Vasiliev highlighted the importance of automation in staying competitive, stating, “The main challenge in real estate today is how to double productivity before competitors do.”

Placy’s Commercial Director, Sotiris Komodromos, added, “When people ask if AI will replace real estate agents, I tell them: we’re not here for optimization; we’re here for growth. Our tools are for smart pros who want to double their sales with minimal effort.”

Zubr Capital’s prior experience with the team behind Placy, particularly in the pro-tech field, makes the startup’s launch particularly promising. Placy has garnered significant public support, having been recognized as Cyprus’s Startup of the Year and joining the US Microsoft Startup Hub.

Viktar Dzenisevich, Investment Director and Partner at Zubr Capital, emphasized the importance of the team behind Placy, stating, “As a leading funding source, we prioritize the people behind a project. With Placy, we found a successful group of professionals with a proven track record, which is why we believe this startup will be no exception.”