The goal is to develop technological tools leveraging Artificial Intelligence that will bring greater transparency and simplify processes in the real estate sector. HD 360’s investment in Cypriot PropTech company WiRE FS was carried out earlier this year after all relevant procedures were completed.
HD 360 Ltd, a subsidiary of the fast-growing insurance company Hellas Direct, invested in WiRE FS, a company focused on leveraging technology to optimize processes in relation to property management, bringing greater transparency in the real estate sector. The company is developing technological tools that will set new standards and raise the bar in many areas of the real estate sector, including valuation, agency, and insurance among others, combining data analytics and Artificial Intelligence with their team’s expertise.
“The successful completion of HD 360 Ltd’s investment in WiRE serves a dual purpose. Firstly, they have embraced our vision to set new standards for the Cyprus real estate market. Secondly, the trust shown to us by an institutional investor that has successfully leveraged technology to bring innovation and change to a traditional sector, such as insurance, gives us the drive to bring our ambitious plans to fruition,” said Pavlos Loizou, Managing Director WiRE FS.
At the forefront of the digitalization of the real estate industry, WiRE has been developing bespoke tools that automate processes, analyze, and visualize data, providing insight to market dynamics and consumer behavior.
Property Technology (or PropTech) is the application of platform economics and information technology to real estate markets. The goals of real estate technology include reducing paperwork by digitalizing and automating processes, making transactions quicker, more efficient and more transparent, and providing insight through big data analytics. PropTech often overlaps with Financial Technology (FinTech), given the close link between the real estate and finance markets.