Egyptian prop-tech startup Birdnest raised undisclosed Pre-series A funding for expansion
In order to increase its local presence in its native market and enter new ones, Egypt-based proptech company Birdnest has closed an undisclosed pre-Series A funding round.
In order to guarantee optimal returns for real estate investors and value for tenants, Mostafa El-Nahawy and Ahmed Fadda founded Birdnest in 2020. The company provides cutting-edge furnishing services and rental management solutions.
Investors such as Beltone Venture Capital and CI Venture Capital have contributed to the startup’s pre-Series A funding round. The amount has been raised, though it is unknown, in exchange for a 20 percent share in the business, which intends to use it to grow its tech, launch “aggressive” marketing campaigns, and strengthen its regional quality team.
With the money wisely used, Birdnest will be able to grow its operations in important regional markets like Athens, Dubai, and Riyadh, as well as considerably increase its local presence in Egypt.
“This partnership with Beltone Venture Capital, a venture capital firm with deep roots in investment banking, provides us with more than just capital. It equips us with the strategic financial infrastructure essential for our next phase of growth,” El-Nahawy said.
Beltone Venture Capital CEO Ali Mokhtar expressed his excitement about helping Birdnest and its leadership team realize their goal of leading and innovating the MENA real estate industry.
“Birdnest has demonstrated strong operational performance, and with its ambitious expansion plans, it is well-positioned to become the leading proptech company in the region,” he said.
