Piney raises €1.6 million for global rental
Cyprus-founded startup Piney has secured €1.6 million in funding to expand its rental operations platform beyond Europe, following rapid growth that saw it
Piney, a cleaning and operations provider for short- and mid-term rental managers, has raised €1.6 million. The Cyprus-founded company will use the capital to deepen its European presence and accelerate its expansion outside the continent, beginning with its recent launch in Miami.
Uni.fund led the investment round, having also led Piney's previous €1.2 million raise in December 2024. The round included participation from 33East, joining existing investor VENTERI Capital. Sotiris Papantonopoulos, a Partner at Uni.fund, stated the firm's continued support was based on Piney's execution. "Piney has executed exactly as we hoped when we first backed them: disciplined growth, strong unit economics, and a product property managers rely on daily," Papantonopoulos said.
From cleaning service to operational layer
Founded in 2022, Piney serves over 5,000 properties across Spain, Portugal, Greece, Cyprus, France, and the United States. The company positions itself as a full operational layer for rental managers, covering cleaning, laundry and linen management, and guest amenity sourcing. All services are coordinated through its proprietary technology platform, which the company says allows it to scale like a software business rather than a traditional hospitality operation.
The startup claims its platform can reduce the operational workload for property managers by up to 80%. This is achieved through a combination of in-house cleaning teams, automated scheduling, and a real-time monitoring dashboard.
Scaling through technology
Since its late 2024 funding round, Piney has expanded from managing 1,300 properties to 5,000. This represents a near quadrupling of its footprint in under two years. Spain is now its largest market, with teams operating in Madrid, Barcelona, and Malaga.
Founder and CEO Nicolas Chrysostomou linked this rapid growth directly to the company's technological development. "In under two years, we’ve almost quadrupled the properties we serve, and our technology, increasingly AI-driven, is what makes that pace possible," he stated. Chrysostomou added that the Miami launch demonstrates the portability of Piney's model for common operational challenges faced by property managers globally.
AI-driven workflow and future plans
A key part of Piney's technological advancement is the integration of artificial intelligence. The company reports its platform now uses AI to review photos taken by cleaners during property inspections in real time. This system aims to identify issues before staff depart, preventing problems that might otherwise lead to guest complaints.
Piney stated it plans to further embed AI into more aspects of its workflow as the platform matures. The new funding will specifically accelerate the development of this technology platform. The capital will also support the company's expansion outside Europe, using its Miami operations as a foundational template for entering new international markets.
