WiRE, the Cypriot fintech that provides insightful property data across Europe, today announced the closing of its seed funding round. The innovative company secured an investment of approximately €1 million from institutional and private investors from Cyprus, Europe, and the USA, one of the largest raised by a start-up company from Cyprus. WiRE assists real estate investors, financiers, insurers, and corporates marketing to households, turn information into better actions by collecting, collating and analysing data from multiple, previously disparate, sources, including government databases, and combines it with dynamic data from satellites.
Through a process of targeted presentations, WiRE was able to attract the interest of institutional investors and individuals from Cyprus, Europe, and the US, who embraced its vision for greater transparency, as well as the development of a unified real estate information platform across Europe.
The company stands out for its innovative approach and collation of data from various sources that have disparate but complimentary characteristics of the real estate market, including geography, size, age, etc but also geology, hydrology, environmental risk, natural hazards, etc. This data is combined with dynamic images and analysis from the European Space Agency’s satellite network and is made available through an array of APIs and consumer products. WiRE’s customers ranging from insurance agencies to banks, real estate investors and developers, who use this data and tools to make more informed decisions, increase revenue and reduce operational costs.
‘Financial organizations such as insurance companies and listed companies, as well as prominent entrepreneurs with deep knowledge of the subject have entrusted us to develop a dynamic database to support the digitalisation of Europe’s financial ecosystem. We consider this a milestone in our journey to develop a unique product, as we set the foundations for our expansion to other countries in near term”, WiRE’s CEO, Pavlos Loizou, commented.
“We utilize technology to access, analyse and enrich different data sources in an innovative way. Our goal is to put all this real estate data across Europe under the same platform, keep our platform open to companies and the public to give transparency and provide the foundations for new applications, tools, and financial products to be developed using WiRE’s database “, Pavlos Loizou explained.
WiRE aims to become a strategic partner for investors, banking institutions, insurance companies and service providers in households, by converting data and creating the profile of every property in all European countries. The company fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, environmental risks and hazards, and more.