Egyptian proptech startup Birdnest announced the successful closing of a significant pre-Series A funding round led by Beltone Venture Capital, a wholly-owned subsidiary of Beltone Holding, and CI Venture Capital, a wholly-owned subsidiary of Citadel International Holdings.
The funds are earmarked for expanding the regional quality team, enhancing proprietary technologies, and aggressive marketing initiatives aimed at reinforcing Birdnest’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 funds is poised to significantly expand its local footprint in Egypt and scale its operations across key regional markets, including Athens, Dubai, and Riyadh. This expansion is part of Birdnest’s ambitious strategy to partner with real estate developers, institutional investors, and independent property owners. The goal is to develop and operate high-value, short-term rental properties and establish Birdnest as the leading short-term rental platform in the region.
Ali Mokhtar, CEO of Beltone Venture Capital, also expressed his excitement about the investment, saying, “We are excited to support Birdnest and its leadership team in achieving their vision to lead and innovate the real estate sector in the MENA region. 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.”
Ahmed Fadda, CO-CEO of Birdnest, adds, “We are thrilled to announce our partnership with esteemed financial investors such as Belton Venture, whose support will bolster our expansion efforts throughout Egypt and facilitate financing solutions for our clientele to complete and furnish their assets. We are equally enthusiastic about our collaboration with CI Venture, which will play a pivotal role in driving our regional expansion initiatives.
The funding round highlights Birdnest’s significant achievements and sets the stage for its next growth chapter, reinforcing its commitment to innovation and excellence in the proptech sector.
