BirdNest co-CEOs Ahmed Fadda [left] and Moustafa El-Nahawy [right] [Credit: BirdNest]

BirdNest closes pre-Series A funding round

Egypt: Egyptian proptech startup BirdNest has closed an undisclosed – but “significant” – pre-Series A funding round as it sets its sights on further international expansion.  

As part of the round, BirdNest has sold a 20 per cent stake in the company to investors including Beltone Venture Capital and CI Venture Capital.

Founded in 2020 by Moustafa El-Nahawy and Ahmed Fadda, BirdNest sets out to offer innovative furnishing services and rental management solutions to drive maximum returns for real estate investors and ensure value for tenants. The startup plans to use the fresh investment to expand its regional quality team, enhance its proprietary technologies and marketing initiatives, and grow its operations in key regional markets such as Athens [Greece], Dubai [UAE] and Riyadh [Saudi Arabia].

In a press release, BirdNest co-CEO El-Nahawy said: “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.”

Within its ambitious growth plan, BirdNest is aiming to develop and operate high-value, short-term rental properties and establish itself as the leading short-term rental platform in the region. It is targeting more partnerships with real estate developers, institutional investors and independent property owners to support its expansion.

Ali Mokhtar, CEO of Beltone Venture Capital, said: “We are excited to support BirdNest and its leadership team to achieve 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, added: “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.”

BirdNest supports tech-enabled living with flexible stays ranging from one night to 30+ days and up to a year. Each property is equipped with amenities and services that can be remotely accessed and controlled using the company’s app.

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