Cyprus-based real estate analytics firm secures additional funding

Cyprus-based real estate analytics company Ask Wire has successfully completed another round of investment raising, the company said in a statement. The statement said the round attracted strong interest from both existing and new investors, underscoring the strong confidence in the company's innovative products and growth trajectory. Ask Wire differentiates itself by leveraging data from a variety of sources, including open data, government and EU databases, and high-level satellite imagery. These resources feed an innovative and combined platform that generates comprehensive profiles for every property across Europe.

Ask Wire CEO Pavlos Loizou noted that "we launched in Cyprus in September 2020 and entered the Greek market two years later; we are now presenting the results of the team's work over the last three years." "We have taken a big step in the digitalization of the real estate data ecosystem in Europe," he added. The company's vision to increase transparency has resonated with investors in Cyprus, Europe and the US, making it one of the leading startups in the region.

In nearly three years of operation, Ask Wire has developed robust software and data-driven tools tailored to the unique real estate markets of Cyprus and Greece. These offerings include Real Estate Dynamics (RED), an intelligent market analysis tool that provides valuable research on transactions, prices, new buildings and time on market. RED helps banks, investors and real estate agencies make decisions.

In Cyprus, RED provides data on more than 140,000 transactions and 22,000 prices updated daily. Meanwhile, in Greece, RED covers 200,000 transactions and 450,000 prices. The company also provides risk and hazard data analytics, enabling customized analytics to assess insurance risks used by leading insurance companies. These analytics cover risks such as earthquakes, fires, floods, landslides, demographics, and crime. Finally, the company also helps in lead generation with an advanced solution that detects trends in urban development and demographics, allowing businesses to identify unique opportunities for customer acquisition and strategic investments. Ask Wire has also developed customer engagement tools for retailers, PV installers, and homeowners looking to improve the energy efficiency of their homes.

Ask Wire's business expansion is already in full swing, with notable clients including the Cypriot government, systemic banks servicing insolvent loans and insurance companies. "This new investment allows us to continue our operations by providing unprecedented research and tools to our growing client base," concluded CEO Pavlos Loizou.