Monday, June 17, 2024
HomeFunding Egypt-Based Proptech Birdnest Secures Undisclosed Pre-Series A Funding

[FUNDING NEWS] Egypt-Based Proptech Birdnest Secures Undisclosed Pre-Series A Funding

An undisclosed pre-Series A investment round for a 20% share in the company has been finalised by Egypt-based proptech Birdnest, with noteworthy investors including Beltone Venture Capital and CI Venture Capital leading the round.

An undisclosed pre-Series A investment round for a 20% share in the company has been finalised by Egypt-based proptech Birdnest, with noteworthy investors including Beltone Venture Capital and CI Venture Capital leading the round.

In order to guarantee optimal profits for real estate owners 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.

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The money will be used to strengthen it’s position in the market through marketing campaigns, improving proprietary technologies, and growing the regional quality team.

Birdnest, a novel proptech startup changing real estate investment, is pleased to announce the closing of a significant pre-Series A funding round, demonstrating its rapid growth and innovative approach to real estate management and investment. It uses cutting-edge technology to streamline processes for all parties to maximise revenues for real estate investors and provide tenants with unmatched value.

It’s latest funding round, led by Beltone Venture Capital, a wholly-owned subsidiary of Beltone Holding, and CI Venture Capital, a subsidiary of Abu Dhabi-based Citadel International Holdings, is significant.

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The investment in exchange for a 20% ownership in it shows investor trust in its vision and business approach, however financial details are unknown. The funds are for regional quality team development, patented technology enhancement, and aggressive marketing to strengthen it’s market position.

Mostafa El-Nahawy, CO-CEO of Birdnest, expressed his enthusiasm about the partnership with Beltone Venture Capital (BVC), highlighting the unique advantages of aligning with an investor who brings a wealth of financial infrastructure knowledge to the table. “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 stated.

Birdnest’s strategic use of the cash will strengthen its local presence in Egypt and grow into Athens, Dubai, and Riyadh. Birdnest’s ambitious ambition to cooperate with developers, institutional investors, and independent property owners includes this expansion. The goal is to build and operate high-value short-term rental properties and make Birdnest the region’s premier platform.

The fundraising round celebrates Birdnest’s successes and prepares it for its next growth phase, reaffirming its proptech leadership.

About Birdnest

BirdNest offers a convenient, flexible, community-driven living experience that makes city living easier.

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