Cyprus is a growing hub for new companies, particularly in the technology and finance sectors. The island hosts a diverse mix of businesses from early-stage ventures to large, established organizations.
Ride-sharing service inDrive is a leading example, having raised $537M in funding. The ecosystem also includes strong FinTech players like Sumsub, which has secured $37.5M.
Below is our list of 55 Cyprus startups worth keeping an eye on.
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Get the Sheet for $50Sumsub builds a full-cycle verification platform to help companies onboard users and prevent fraud. Their solution secures the entire customer journey with customizable checks for identity, documents, and biometric data.
| Headquarters | Limassol, Limassol, Cyprus |
| Year Founded | 2015 |
| Founders | Andrew Sever, Jacob Sever, Peter Sever, Vyacheslav Zholudev |
| Funding Amount | $37.5M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Series B |
| Top Investors | Flint Capital |
inDrive operates a global mobility platform that puts the power of price negotiation directly into the hands of passengers and drivers. Beyond ride-hailing, their app connects users with a range of urban services, including courier and intercity transportation.
| Headquarters | Limassol, Limassol, Cyprus |
| Year Founded | 2012 |
| Founders | Arsen Tomsky |
| Funding Amount | $537M |
| Startup Size | Major Organization (1,001-5,000) |
| Last Funding Status | Debt Financing |
| Top Investors | General Catalyst, Insight Partners, Bond, LETA Capital |
Finery Markets operates a multi-dealer electronic marketplace for institutional participants in the crypto markets. They provide a suite of trading solutions to help institutions manage digital assets and navigate market risk.
| Headquarters | Limassol, Limassol, Cyprus |
| Year Founded | 2019 |
| Founders | Ilia Drozdov, Konstantin Shulga |
| Funding Amount | $5.5M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Seed |
| Top Investors | gumi Cryptos Capital (gCC), APA Venture Partners, Unlimit, Floating Point Group, Shima Capital |
Simple builds a digital health app that offers AI coaching for intermittent fasting and long-term weight loss. Their platform provides personalized insights to help users build healthier habits and improve their overall wellness.
| Headquarters | Limasol, Limassol, Cyprus |
| Year Founded | 2018 |
| Founders | Alex Ilinskiy, Mike Prytkov |
| Funding Amount | $40M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series B |
| Top Investors | LIQUiDITY Group, Target Global, s16vc, HartBeat Ventures |
Fibery builds a no-code work management platform that adapts to a company's unique processes, allowing teams to create their own workspace. The platform connects disparate functions like product, software development, and user feedback to replace a collection of separate tools.
| Headquarters | Nicosia, Nicosia, Cyprus |
| Year Founded | 2020 |
| Founders | Michael Dubakov, Vadim Gaidukevich |
| Funding Amount | $8.3M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Series A |
| Top Investors | AltaIR Capital, Tal Ventures |
Hellas Direct operates a digital-first insurance platform offering car and home policies. Their service uses AI and technology to simplify the entire insurance process for customers, from initial quotes to claims management.
| Headquarters | Nicosia, Nicosia, Cyprus |
| Year Founded | 2011 |
| Founders | Alexis Pantazis, Emilios Markou |
| Funding Amount | €85.8M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Series B |
| Top Investors | European Bank for Reconstruction and Development, International Finance Corporation, Endeavor Catalyst, Third Point Ventures, Portage Ventures |
Bryq builds a talent intelligence platform that helps companies make faster and more objective hiring decisions. Their system uses AI-powered assessments to measure a candidate's skills and personality, moving beyond the traditional resume.
| Headquarters | Nicosia, Nicosia, Cyprus |
| Year Founded | 2017 |
| Founders | Alex Vratskides, Guy Krief, Hassan Chahrour, Markellos Diorinos |
| Funding Amount | $5.4M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Seed |
| Top Investors | Big Pi Ventures, No Such Ventures |
Kea powers global finance with a single Know Your Business (KYB) solution for banking, stablecoins, and crypto. The platform streamlines compliance by creating one unified verification process for licensed financial entities.
| Headquarters | Nicosia, Nicosia, Cyprus |
| Year Founded | 2023 |
| Founders | — |
| Funding Amount | €8.5M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Seed |
| Top Investors | Mark Carnegie |
EMBIO Diagnostics builds advanced portable biosensors for rapid food safety and environmental testing. Their handheld device uses electrochemical technology to deliver reliable results in minutes, connecting to a cloud platform for immediate data analysis.
| Headquarters | Nicosia, Nicosia, Cyprus |
| Year Founded | 2016 |
| Founders | Constantinos Loizou |
| Funding Amount | $5.1M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Seed |
| Top Investors | ASBISC Enterprises, Asbis, Kinisis Ventures |
46 Additional Cyprus Startups Worth Following
Our top picks are just a glimpse into what's happening across Cyprus. Founders are building strong companies in many fields, with gaming and fintech leading the way. Together, these startups have raised hundreds of millions to turn their ideas into reality. Here is a look at the other companies shaping the island's startup community.