Cypriot property market intelligence firm secures additional funding

Cypriot real estate data analytics firm, Ask Wire, specialising in the Cyprus and Greece property markets, has successfully closed its extension funding round, according to a statement by the company.

The statement noted that the round saw enthusiastic participation from both existing and new investors, underscoring strong confidence in the company’s innovative products and growth trajectory.

Ask Wire distinguishes itself by harnessing data from diverse sources, including open data, government and EU databases, and high-resolution satellite imagery.

These resources fuel an innovative and consolidated platform that generates comprehensive profiles for every property across Europe.

Reflecting on the company’s journey Ask Wire’s CEO Pavlos Loizou said that “we launched in Cyprus in September 2020 and entered Greece two years later; we are now rolling out what the team has been focused on for the past three years”.

“We have taken great strides in digitalizing Europe’s real estate data ecosystem,” he added.

The company’s vision for enhanced transparency has resonated with investors across Cyprus, Europe, and the USA, elevating it to a prominent startup in the region.

With a foundation laid over nearly three years, Ask Wire has developed robust software and data-driven tools tailored to the unique real estate landscapes of Cyprus and Greece.

These offerings include Real Estate Dynamics (RED), an intelligent market analysis tool providing valuable insights into transactions, asking prices, new construction, and time on the market. RED aids decision-making for banks, investors, and real estate agents.

In Cyprus, RED offers data for more than 140,000 transactions and 22,000 asking prices, updated daily. Meanwhile, in Greece, RED covers 200,000 transactions and 450,000 asking prices.

The company also provides insights on risks and hazard data, resulting in tailored analytics created specifically for insurance risk assessments, utilised by leading insurers. These analytics encompass risks such as earthquakes, wildfires, floods, landslides, demographics, and crime data.

Finally, the company also helps in lead generation, with a cutting-edge solution that detects trends in urban growth and demographics, enabling businesses to identify unique opportunities for targeting clients and making strategic investments.

Ask Wire has also developed customer-attracting tools for photovoltaic sellers, installers, and homeowners seeking to enhance the energy efficiency of their homes.

Ask Wire’s business expansion is already well underway, with a portfolio of notable clients, including the Cyprus government, systemic banks, NPL (non-performing loan) servicers, and insurance companies.

“This new investment allows us to expand further, providing unparalleled insights and tools for our growing client base,” CEO Pavlos Loizou concluded.