Egyptian real estate tech startup Birdnest has secured an undisclosed amount of funding to expand into new markets and strengthen its existing operations in Egypt.
The company’s pre-Series A funding round included investments from investors including Beltone Venture Capital and CI Venture Capital.
The exact amount raised is unclear, but the funds were exchanged for 20% equity in the company. Birdnest plans to use the capital to further improve its technology, hire talented team members locally, and launch an “aggressive” marketing campaign.
Founded in 2020 by Mostafa El-Nahawy and Ahmed Fadda, Birdnest offers innovative furniture services and rental management solutions aimed at maximising returns for real estate investors while delivering great value to tenants.
El Nahawy emphasized the importance of the partnership with Beltone Venture Capital, saying, “With a strong foundation in investment banking, this partnership with Beltone Venture Capital provides more than just financial backing. It provides the strategic financial infrastructure needed for our next stage of growth.”
Ali Mokhtar, CEO of Beltone Venture Capital, expressed enthusiasm to support Birdnest and its leadership team in realizing its vision to lead and innovate in the real estate sector in the MENA region.
“Birdnest has demonstrated strong operating performance and its ambitious expansion plans position it well to become a leading real estate tech company in the region,” Beltone said.
With the strategic allocation of the new capital, Birdnest plans to expand its operations into key regional markets such as Athens, Dubai and Riyadh, as well as significantly increase its local presence in Egypt.
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