Startup in Cyprus
Every startup record the directory holds in Cyprus.
Showing 9 of 9 Startup · Cyprus
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Aseto
Aseto is a Cyprus-based artificial intelligence startup specialising in speech recognition, speech-to-text technology, and machine learning model development. The company was a gold partner of the Cyprus AI Expo 2026, with its machine learning engineer among the event's confirmed speakers presenting on STT model research. Aseto develops AI-powered voice and audio processing tools targeting enterprise clients and developer teams.
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Chrysalis LEAP
Chrysalis LEAP is a Cyprus-based accelerator and innovation hub that supports early-stage startups through structured mentorship, workspace, and access to regional investor networks across the Eastern Mediterranean. The programme focuses on technology-driven ventures and helps founders refine product-market fit, build sustainable business models, and connect with corporate partners in sectors like fintech, healthtech, and sustainability. As one of the few dedicated accelerators operating on the island, Chrysalis LEAP plays a critical role in building the local startup ecosystem and retaining entrepreneurial talent in Cyprus.
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Covve
Covve is a Nicosia-based SaaS company, founded in 2013, that provides a business card scanning and personal CRM platform for professionals and teams. The platform allows users to capture leads by scanning business cards, event badges, and digital profiles, then sync contacts to major CRM systems including Salesforce and HubSpot. Covve serves over 2 million users across 130+ countries in 16 languages. The company is headquartered at Lordou Vyronos, Nicosia.
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Exness
Exness is a Limassol-headquartered retail CFD and forex broker that has quietly become one of the largest trading venues in the world by monthly volume, routinely reporting trillions of dollars in turnover from retail and professional clients across Asia, the Middle East, Africa, and Latin America. The company operates a proprietary matching and risk-management stack, auto-executes deposits and withdrawals for most of its payment methods, and is regulated by the Cyprus Securities and Exchange Commission (CySEC) in the EU, the FCA in the UK, and a mesh of tier-two regulators covering its non-EU corridors. Founded in 2008 by a small team of Russian-origin quants who chose Cyprus for its EU/MiFID access and English-speaking talent pool, Exness today employs over 2,000 people and is the anchor tenant of the Limassol fintech cluster that also includes crypto exchanges, prop shops, and several CFD challengers. In the European ecosystem it is the most commercially successful Cypriot financial-services company and a useful anchor for understanding why Limassol became a global retail-trading hub.
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Finery Markets
Finery Markets is a Limassol-based institutional crypto trading infrastructure company, founded in 2019 by Konstantin Shulga and Ilia Drozdov. The platform operates as a non-custodial, over-the-counter ECN connecting crypto businesses to deep liquidity pools across 200+ crypto and fiat currency pairs. In Q2 2024, the platform processed over $5 billion in trading volume, serving clients in 35+ countries. The company raised $5.5 million in seed funding in 2022 from investors including G1Ventures, gumi Cryptos, and Shima Capital.
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Malloc
Malloc is a Nicosia-based AI-driven mobile cybersecurity company, founded in 2021 and backed by Y Combinator (YC S21), Urban Innovation Fund, and Dragon Capital. The company develops on-device protection against spyware, surveillance, and data theft for individuals, enterprises, and government agencies, with over one million users worldwide. Its flagship product, Antistalker, detects and blocks unauthorised microphone and camera access in real time. Malloc collaborates with NVIDIA, Google, Microsoft, and VISA on privacy and AI-based defence research.
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Nexters
Nexters is a Limassol-headquartered mid-core mobile games publisher best known for Hero Wars, a long-running RPG that at its peak was one of the highest-grossing role-playing games on iOS and Android worldwide and popularized the now-ubiquitous 'puzzle in the ad, different game inside' marketing pattern. The company runs a portfolio of live-ops titles, relies on heavy user-acquisition and A/B testing in-house, and operates from Cyprus as a talent and operational hub following the 2020-2022 wave of games-industry migration into Limassol. In 2021 Nexters went public on Nasdaq via a SPAC combination at a valuation north of USD 1.5 billion, making it one of the very few Cyprus-listed consumer-tech exits on a major US exchange. For the directory it represents the scale of the Limassol mobile-gaming cluster that grew up around Wargaming and has since attracted dozens of studios and publishers.
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Spotware Systems
Spotware Systems is a B2B fintech company founded in 2010 in Limassol, Cyprus, and the creator of the cTrader trading platform for CFD and FX brokers. As of 2025, cTrader serves over 11 million traders and added 2 million new traders in that year alone, with 104% year-on-year growth in trading volume. The company's product suite also includes cBridge, a platform-agnostic liquidity bridge connecting MT4, MT5, and cTrader to multiple liquidity providers. Spotware employs 200+ professionals across 30+ nationalities.
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Wargaming
Wargaming is a Nicosia-headquartered game developer and publisher best known for the massively multiplayer online titles World of Tanks, World of Warships, and World of Warplanes, which together have accumulated hundreds of millions of registered accounts and defined the mid-2010s hardcore free-to-play category. Founded in 1998 in Minsk as a small strategy-game studio, the company moved its commercial headquarters to Cyprus in the 2010s for EU access and favorable IP treatment, and in 2022 shut its Russian and Belarusian operations entirely following the invasion of Ukraine, transferring the CIS business to a local licensee and concentrating development and live operations in Nicosia, Vilnius, Prague, Chicago, Austin, and Belgrade. Wargaming pioneered the free-to-play model for military simulation games, built its own proprietary engine and live-ops tooling, and runs one of the largest esports programs in the sector. In the European ecosystem it is the anchor of the Cypriot gaming cluster and a useful case study of a Minsk-origin studio reconstituting itself entirely outside the post-Soviet space.
