Egyptian proptech Birdnest secures pre-Series A round for 20% stake
TLDR
- Egypt-based proptech company Birdnest secures undisclosed funding in pre-Series A round, selling 20% stake to investors led by Beltone Venture Capital and CI Venture Capital.
- Founded in 2020 by Mostafa El-Nahawy and Ahmed Fadda, Birdnest offers innovative furnishing services and rental management solutions for maximizing real estate investor returns and tenant value.
- New funds to expand regional quality team, enhance proprietary technologies, and strengthen market position, highlighting the increasing interest in proptech solutions in the region.
Egypt-based proptech company Birdnest has secured an undisclosed amount in a pre-Series A funding round, selling a 20% stake to investors led by Beltone Venture Capital and CI Venture Capital.
Founded in 2020 by Mostafa El-Nahawy and Ahmed Fadda, Birdnest provides innovative furnishing services and rental management solutions designed to maximize returns for real estate investors and offer value to tenants.
The newly raised funds will be used to expand Birdnest’s regional quality team, enhance its proprietary technologies, and implement marketing initiatives to strengthen its market position. This investment underscores the growing interest in proptech solutions in the region.
Key Takeaways
In Africa, property technology (proptech) startups are increasingly harnessing software to disrupt and improve real estate markets while serving the needs of young people and businesses. They operate different business models ranging from investment platforms that connect retail investors to real estate assets to property management and apartment listing platforms. But all seek to tap into opportunities in the African real estate market, estimated to grow to $3.74 trillion as of last year.
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