Piney, a Cyprus-founded PropTech led by founder and CEO Nikolas Chrysostomou, has raised €1.6 million in a seed round led by Uni.fund with participation from 33East. The company, founded in 2022, provides an operations-as-a-service platform for professional short- and medium-term rental property managers.
Piney’s product and market
Piney addresses the scaling pain points of short- and medium-term rental managers, who face fragmented, manual coordination across multiple vendors for cleaning, linen and supplies. The startup offers a unified operating technology layer that automates cleaning, laundry, linen management and amenity supplies through a single platform, enabling property managers to scale with the efficiency and consistency of a software company.
The service currently covers roughly 5,000 properties across Spain, Portugal, Greece, Cyprus, France and the United States. Piney positions its business as operations-as-a-service: it charges property managers to outsource turnover operations coordinated through its proprietary technology, allowing the company to scale more like a software business than a traditional hospitality operator.
Piney integrates computer vision AI to evaluate photos taken on-site by cleaners during turnover checks in real time, catching and correcting quality issues before staff leave the property rather than after a guest checks in.
The company reports a team size between 51 and 200 and remains at the seed stage. Including this round, Piney has raised €2.8 million to date.
The new €1.6 million will be used to deepen market presence in existing European hubs, accelerate platform development—specifically expanding AI capabilities—and drive global market expansion, starting with its recent launch in Miami.
“The short- and medium-term lease market is being professionalized rapidly and the operating part is the most difficult to do so. Piney has built the infrastructure this industry needs and we are excited to support the team as it escalates it globally.” — Yiannis Eftychiou, Partner at 33East
“This round is about getting what we’ve proven in Europe and taking it into the world. In less than two years we almost quadrupled the properties we serve, and our technology, with ever-increasing artificial intelligence, is what makes this pace possible. Property managers everywhere face the same operational challenges and with Miami we show that the Piney model is traveling.” — Nikolas Chrysostomou, Founder & CEO
