Piney, the Cyprus-founded cleaning and operations provider for short and mid-term rental property managers, has raised €1.6 million in a round led by Uni.fund, with participation from 33East, the Cyprus-based venture capital fund.
The round is a milestone for the Cypriot startup ecosystem: a company that started in Cyprus in 2023 now services 5,000 properties across Spain, Portugal, Greece, Cyprus, France and, as of this month, the United States. Since its previous round in late 2024, Piney has grown from 1,300 to 5,000 properties under service, an almost fourfold increase in under two years. This growth was made possible by the technology platform Piney has built, which lets a services business scale with the efficiency of a software company.
Spain has become the company’s largest market, with operations in Madrid, Barcelona and Malaga, while Cyprus remains the company’s home base and proving ground, where its model was first built and tested.
The new capital will fund Piney’s next phase: deepening its presence in existing European markets, accelerating development of its technology platform, including its AI capabilities, and supporting its international expansion, starting with the recent launch of Miami, the company’s first market outside Europe.
From Cyprus to the world
Piney offers property managers a complete operational layer for short and mid-term rentals: cleaning, laundry, linen management, and consumables supply and placement, all monitored and managed through its technology platform, ensuring consistent, high-quality results at scale.
The launch in Miami marks a turning point. Home to one of the world’s most dynamic short and mid-term rental markets, Miami is a natural first step outside Europe: a city where professional property managers operate at scale and demand the operational consistency Piney was built to deliver. The company plans to use Miami as a blueprint for further international expansion.
Leading the industry with AI-enabled operations
Piney is applying AI across its operations to bring new efficiencies to an industry that has traditionally run on manual coordination. In quality assurance, the platform reviews in real time the photos cleaners capture during their checks, flagging issues before the cleaner leaves the property, turning quality control from an after-the-fact process into a live one. The company plans to extend AI further across its workflow as the platform develops.
“This round is about taking what we’ve proven across Europe and bringing it to the world,” said Nicolas Chrysostomou, founder and CEO of Piney. “We built Piney from Cyprus, and everything we now do in six countries was tested here first. In under two years we’ve almost quadrupled the properties we serve, and our technology, increasingly AI-driven, is what makes that pace possible. With Miami, we’re showing that a company built in Cyprus can compete anywhere.”
Backed from home and abroad
“The short and mid-term rental market is professionalizing fast, and operations are the hardest part to get right. Piney has built the infrastructure layer this industry needs, and we’re excited to back a Cypriot founder as the team scales it globally,” said Yiannis Eftychiou, Partner at 33East.
“Piney has executed exactly as we hoped when we first backed them: disciplined growth, strong unit economics, and a product property managers rely on daily. Supporting their expansion beyond Europe was a natural next step,” said Sotiris Papantonopoulos, Partner at Uni.fund.
About Piney
Piney provides cleaning and operational services for short and mid-term rental property managers, powered by its own technology platform. Founded in Cyprus in 2023, the company services 5,000 properties across Spain, Portugal, Greece, Cyprus, France and the United States. www.piney.eu
