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Limassol-based PropTech startup, Movingdoors, specializing in tech-driven serviced apartments with flexible online booking options, recently concluded a successful seed funding round, raising €1.163 million. Contributors include Uni.fund, Genesis Venture, and Venteri Capital.
Established in 2022, Movingdoors operates 220 apartments across key Cyprus cities, achieving a remarkable 97% occupancy rate in its first year. Uni.fund led the seed funding, along with Genesis Venture and Venteri Capital, injecting €1.163 million in equity and €300K in debt. The investment reflects confidence in Movingdoors’ innovative property technology and market expansion.
Uni.fund CEO, Sotiris Papantonopoulos-Mantopoulos, stated, “We committed to early-stage investment in Movingdoors, drawn by its effective business model, validated by the company’s remarkable progress. Movingdoors is poised to enhance its position as a leading technology-driven operator in Cyprus.”
Movingdoors Co-Founder, Demetris Papadopoulos, noted the high demand for their serviced apartments and digital customer experience, expressing commitment to evolving the concept with investor backing. Co-Founder Yiannis Christodoulou added, “This funding is the fuel for our journey towards redefining serviced apartment experiences in bustling cities like Dubai.”
The funds will fortify Movingdoors’ position in Cyprus and support its entry into Dubai, aiming for 300 serviced apartments by late 2024. The in-house technology department will enhance online operations, including a dedicated Movingdoors residents app.
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By Proptechbuzz
By Ravi Kumar
