Cypriot fintech raises €1 million

WiRE, a Cypriot fintech that provides analytical property data across Europe, has raised almost €1 million in funding from institutional and individual investors in Cyprus, Europe, and the United States.

The firm compiles information from a variety of sources that include a wide range of real estate market characteristics, such as geography, size, age, and so on, as well as geology, hydrology, environmental risk, natural hazards, and so on.

This information is integrated with dynamic photos and analysis from the European Space Agency’s satellite network and made available via a number of APIs and consumer applications.

Pavlos Loizou, CEO, WiRE said: “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 our database.”

Customers of the platform include insurance companies, banks, real estate investors, and developers, who utilize the data and tools to make better decisions, generate revenue and cut costs.