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Today: July 10, 2024
June 30, 2024
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Birdnest: Egyptian Startup Secures Pre-Series A Funding for Proptech

TLDR:

  • Egyptian proptech startup Birdnest secured pre-Series A funding from Beltone Venture Capital and CI Venture Capital.
  • The funding amount remains undisclosed but is exchanged for a 20 percent stake in the company.

An Egyptian proptech startup, Birdnest, has recently secured pre-Series A funding from investors such as Beltone Venture Capital and CI Venture Capital. The funding amount remains undisclosed but is exchanged for a 20 percent stake in the company. Birdnest plans to use the funds to expand into new markets, enhance its operations in Egypt, advance its technology, hire high-quality team members, and launch aggressive marketing campaigns. Founded in 2020 by Mostafa El-Nahawy and Ahmed Fadda, Birdnest focuses on offering furnishing services and rental management solutions to maximize earnings for real estate investors and provide value to tenants. The collaboration with Beltone Venture Capital provides Birdnest with strategic financial infrastructure for its growth. CEO Ali Mokhtar expressed enthusiasm in supporting Birdnest’s vision to innovate the real estate sector in the MENA region. By strategically allocating the new capital, Birdnest aims to expand its operations across major regional markets such as Athens, Dubai, and Riyadh, while increasing its local presence in Egypt.

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