33East invests in Cyprus-founded property operations startup Piney
Piney raised €1.6 million in its latest funding round as it expands from five European markets into the United States.
Nicosia, Cyprus. Cyprus-based venture capital firm 33East has invested in Piney, a Cyprus-founded property operations startup that raised €1.6 million as it expands from Europe into the United States.
The company has launched in Miami after expanding across five European markets and now serves more than 5,000 properties in six countries.
Latest funding round
The investment was made alongside Uni.fund and Venteri Capital. Uni.fund led Piney’s latest funding round after also backing the company in 2024.
The latest round brings Piney’s total funding to date to €2.8 million, following a €1.2 million round led by Uni.fund in December 2024.
33East said it was pleased to invest alongside Uni.fund, which again led the round, and Venteri Capital.
Expansion and operations
Founded in 2022, Piney provides operational services to managers of short- and mid-term rental properties, combining cleaning and property services with its own technology platform.
The company serves more than 5,000 properties across Spain, Portugal, Greece, Cyprus, France and the United States.
Piney managed 1,300 properties when it last raised funding in late 2024, meaning its footprint has almost quadrupled in less than two years.
33East statement
33East said Piney’s progress demonstrated what could happen when a founder used Cyprus as a proving ground before taking a business into international markets.
“Nicolas Chrysostomou is a perfect example of what happens when a founder treats Cyprus as a proving ground and is not afraid to go beyond,” 33East said in an online post.
“Five European markets later, Piney has just opened in Miami. 5,000 properties, six countries,” the venture capital firm added.
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