BidX1, the digital property investment platform, has been recognised among Europe’s leading PropTech companies as part of an awards process backed by the European Commission and the President of the European Parliament.

The ground-breaking firm is one of just five ‘scale-up’ companies to have been nominated in the ‘Market & Transact’ category, which covers property sales, following a comprehensive review process which commenced in February.

The awards, run by the European PropTech Association & Finnova Foundation, with backing from the European Commission and the President of the European Parliament, were established in 2018 and seek to champion the most innovative companies in the property industry.

More than 70 judges from across the continent took part in the selection process, resulting in the announcement of Europe’s Top 50 PropTech Companies this week. BidX1 will join the other nominees for the second stage of the competition in Brussels this summer, along with representatives of the European Commission and jury members. The overall winners will be announced in September at MIPIM Propel in Paris, an annual event attended by the world’s most influential real estate and technology players.

Kritonas Onisiforou, Head of Real Estate at BidX1 Cyprus, commented: “We are delighted to have been recognised by the European PropTech Association as one of Europe’s Top 50 PropTech companies, and to have been selected as one of just five companies in the transactional space.

“Initiatives like this are vital for fostering innovation and we are grateful to both the European Commission and the President of the European Parliament for championing BidX1 and other pioneering companies in the real estate industry.

“Our business model is distinctive: BidX1 is both a professional property company and a technology platform. Our aim is to streamline the sale process by digitizing the transaction and in doing so bringing greater transparency, efficiency and convenience to the process.”

BidX1, which was established in Ireland in 2011 and launched operations in Cyprus in 2019, has developed a digital platform which allows buyers to browse investment opportunities in five markets – Ireland, UK, Cyprus, Spain & South Africa – and to complete the full transaction online.