Grace Ashiru
Birdnest, an Egyptian proptech startup, has secured an undisclosed amount of funding to expand into new markets and enhance its existing operations in Egypt.
The pre-Series A funding round saw contributions from Beltone Venture Capital and CI Venture Capital, among other investors.
Although the exact amount raised remains unknown, the funding was exchanged for a 20 percent stake in the company. Birdnest plans to utilize these funds to advance its technology, hire additional high-quality team members regionally, and launch “aggressive” marketing campaigns.
Founded in 2020 by Mostafa El-Nahawy and Ahmed Fadda, Birdnest offers innovative furnishing services and rental management solutions designed to maximize earnings for real estate investors while providing significant value to tenants.
El-Nahawy emphasized the importance of their partnership with Beltone Venture Capital, stating, “This collaboration with Beltone Venture Capital, a firm with a strong foundation in investment banking, provides us with more than just financial support. It offers the strategic financial infrastructure necessary for our next stage of growth.”
Ali Mokhtar, CEO of Beltone Venture Capital, expressed his enthusiasm for supporting Birdnest and its leadership team in realizing their vision of leading and innovating the real estate sector in the MENA region.
“Birdnest has shown robust operational performance and, with its ambitious expansion plans, is well-positioned to become the leading proptech company in the region,” Beltone stated.
By strategically allocating the new capital, Birdnest plans to expand its operations across major regional markets such as Athens, Dubai, and Riyadh, while significantly increasing its local presence in Egypt.
