Strategic Investment and Stake Acquisition
Egyptian proptech startup Birdnest has successfully closed a pre-Series A funding round led by Beltone Venture Capital, a subsidiary of Beltone Holding. The round also saw participation from CI Venture Capital, a subsidiary of the Abu Dhabi-based investment firm Citadel International Holdings. While the financial terms of the deal remain undisclosed, the investment grants the investors a 20% stake in Birdnest. This capital injection is set to significantly bolster Birdnest’s capabilities and market reach.
Strengthening Regional Quality Team
Birdnest plans to use the new funds to enhance its regional quality team, ensuring that they maintain high standards as they expand. Investment will also be directed towards improving Birdnest's proprietary technologies, which are crucial for maintaining their competitive edge in the proptech sector. A portion of the funds will support aggressive marketing initiatives aimed at solidifying Birdnest's market position both locally and regionally.
Expansion Plans
Birdnest aims to leverage the funds to expand its presence within Egypt and scale operations across key regional markets, including Athens, Dubai, and Riyadh. This strategic expansion is intended to position Birdnest as a leading player in the MENA region's proptech industry.
Leadership Perspectives
Mostafa El-Nahawy, Birdnest’s Co-CEO, highlighted the strategic value of the partnership with Beltone Venture Capital:
“This partnership with Beltone Venture Capital equips us with the strategic financial infrastructure essential for our next phase of growth.”
Support from Beltone Venture Capital
Ali Mokhtar, CEO of Beltone Venture Capital, shared his enthusiasm for the collaboration:
“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 is well-positioned to become the leading Proptech company in the region.”
Vision for Collaboration and Growth
Birdnest aims to collaborate with real estate developers, institutional investors, and independent property owners to develop and operate high-value short-term rental properties. This collaboration is central to Birdnest's strategy to establish itself as the leading short-term rental platform in the region.
Support from CI Venture Capital
Ahmed Fadda, Birdnest’s other co-CEO, expressed his excitement about the partnerships with both Beltone Venture and CI Venture, highlighting their respective roles in supporting Birdnest's expansion efforts in Egypt and the wider region. This support is expected to play a pivotal role in Birdnest’s ambitious growth plans.
