In 2022, amidst the bustling real estate market of Limassol, a groundbreaking property technology (Prop Tech) startup emerged, disrupting the traditional norms of property rentals.
Moving Doors, with its innovative approach to serviced apartments, has since redefined the landscape for modern nomads and business travellers.
We sat down with Demetris Papadopoulos, CEO, and Co-founder of Moving Doors, to delve into this dynamic enterprise’s journey, strategies, and plans.
The Genesis of Moving Doors
Moving Doors was born out of a necessity to bridge the gap in the real estate market, where conventional property rentals failed to meet today’s travellers’ evolving needs.
“It was a response to a gap we observed in the real estate market. Traditional property rentals were not meeting the demands of the modern nomad or the business traveller seeking flexibility, comfort and a seamless online experience.,” Papadopoulos explains. The startup’s mission was clear from the start: to combine the reliability of a hotel with the homely warmth of private accommodation.
“We wanted to create a platform that not only provided beautiful living spaces but also offered a hassle-free online booking system” he states.
Since its inception, Moving Doors has swiftly expanded its operations, now boasting 305 units across major cities including Limassol, Paphos, Larnaca, and Dubai. This rapid growth can be seen as a testament to the company’s innovative approach and acute understanding of market demands.
Disruptive Solution in a Competitive Market
Moving Doors introduced a novel concept: serviced apartments featuring designer furnishings and a suite of services accessible via an innovative online platform. This model not only caters to the end-user but also offers landlords a streamlined process for managing leases and bookings.
Our solution emphasises user experience, ensuring that every interaction with Moving Doors is intuitive, efficient, and satisfying.
The startup’s unique proposition has not only attracted a substantial customer base but also set a new benchmark in the industry. In Dubai and Cyprus, Moving Doors has adapted to local preferences while maintaining high service standards, a strategy that Papadopoulos believes is crucial for international success.
“Each market has its nuances, but the underlying principle remains the same: a universal demand for quality and convenience. Cyprus, in particular, has taught us the importance of adapting to local preferences while maintaining our core service standards” he explains.
Navigating the Startup Ecosystem in Cyprus
Though burgeoning, The Cypriot startup ecosystem presents its own challenges, including access to capital and talent acquisition.
“Access to capital and finding the right talent can be challenging. Yet, these obstacles are surmountable with persistence and the right network” he says but despite these hurdles, Papadopoulos views that “Cyprus offers a strategic location and a growing support system for startups, making it an attractive destination for entrepreneurs”
“Networking is key—immerse yourself in the local startup scene, attend events, and don’t hesitate to seek mentorship. Remember, resilience is your greatest asset” Papadopoulos advises.
Sudden Success and Sustaining Growth
Moving Doors has experienced remarkable success in a short period, a scenario that can be overwhelming for many young entrepreneurs. Papadopoulos emphasises the importance of staying focused on long-term goals.
“Sudden success can be overwhelming, but it’s crucial to stay focused on your long-term vision” he states. Building a strong team is also highlighted as a critical factor; as this remains a cornerstone of their strategy to sustain growth.
“It’s also important to build a strong team that shares your passion and dedication. Success is not just about the idea; it’s about execution and the ability to adapt. Our team at Moving Doors is one of our biggest assets and also the safeguard of our future success. Yiannis, Kyrillos and Giorgos, my co-founders and our management team are working tirelessly to keep this success continued, another great advice is to surround yourself with a great team!” he exclaims.
Seed Funding and Future Aspirations
The journey towards securing €1.1 million in seed funding was a significant milestone for Moving Doors. A milestone that came from demonstrating a viable product and a scalable business model, as Papadopoulos highlights.
“Having not just one but three international funds supporting our idea and making it easier to come to life is a huge success for us, but also the biggest commitment to not let down the people that trusted us”.
“Be clear about your value proposition and how you plan to achieve growth. Investors are looking for teams that have the potential to disrupt markets and deliver returns,” he advises potential seekers of capital investment.
Next steps
Looking ahead, Moving Doors is set on consolidating its presence in existing markets while enhancing its technological offerings.
The forthcoming crowdfunding campaign with Crowdbase Cyprus is a strategic move to involve more stakeholders in their journey. “This campaign is an opportunity for individuals to invest in a future where serviced apartments are synonymous with luxury, convenience, and technological innovation. A call to action for those who share our vision and wish to contribute to a venture that’s reshaping the real estate landscape” Papadopoulos asserts adding that at Moving Doors “We’re excited to see where this collective effort will take us and how it will enable us to continue providing exceptional living experiences to our customers”
He also didn’t hide his excitement about consolidating our presence in Cyprus and making a mark in Dubai. “Our goal is to not just expand geographically but also to enhance our technological offerings, ensuring that Moving Doors remains at the forefront of innovation in the serviced apartment sector,” he says.
Moving Doors stands at the forefront of the serviced apartment sector, driven by a vision that marries luxury with technological convenience. As the company prepares for its next phase of growth, Papadopoulos and his team are not just responding to market demands but are actively shaping the future of real estate.
For entrepreneurs and business leaders, the story of Moving Doors is a compelling example of how innovative thinking and a customer-centric approach can lead to rapid success in a competitive industry.
