What’s this about?
- Birdnest, a leading proptech startup, has closed a substantial pre-Series A funding round, selling a 20% stake to investors including Beltone Venture Capital and CI Venture Capital.
- The funds will be used to expand Birdnest’s regional quality team, enhance its proprietary technologies, and boost marketing efforts to strengthen its market position in Egypt and key regional markets.
- Birdnest aims to leverage this investment to partner with real estate developers and institutional investors, positioning itself as the leading short-term rental platform in the MENA region.
Zoom in…
Birdnest, a pioneering proptech startup revolutionizing the real estate investment landscape, is thrilled to announce the successful closing of a significant pre-Series A funding round, underscoring the company’s robust growth trajectory and its innovative approach to real estate management and investment. With a mission to maximize returns for real estate investors while providing tenants with unparalleled value, Birdnest leverages cutting-edge technology to streamline processes for all stakeholders involved.
The latest funding round, led by notable investors including Beltone Venture Capital, a wholly-owned subsidiary of Beltone Holding, and CI Venture Capital, a wholly-owned subsidiary of Citadel International Holdings, a prominent investment management firm headquartered in Abu Dhabi, marks a pivotal moment for Birdnest. While the financial details of the investment remain undisclosed, the infusion of capital in exchange for a 20% stake in the company signifies strong investor confidence in Birdnest’s vision and business model. The funds are earmarked for the expansion of the regional quality team, the enhancement of proprietary technologies, and aggressive marketing initiatives aimed at reinforcing Birdnest’s market position.
What they are saying…
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,” he stated.
Ali Mokhtar, CEO of Beltone Venture Capital, also shared his excitement about the investment, saying, “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, 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 Big picture
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.
Bottomline
The funding round not only highlights Birdnest’s significant achievements but also sets the stage for its next growth chapter, reinforcing its commitment to innovation and excellence in the proptech sector.
Source: wamda.com
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