Proptech startup Birdnest has successfully closed a pre-series A funding round, led by Beltone Venture Capital — the venture capital arm of Beltone Holding — and CI Venture Capital of UAE’s Citadel International Holding. The investors have acquired a 20% stake in Birdnest for an undisclosed sum, according to a statement released by the startup.
The newly acquired funds will be used to expand Birdnest’s regional team and enhance its technology and marketing strategies to broaden market access. Additionally, the funds will facilitate the company’s expansion into new markets, including Athens, Dubai, and Riyadh. This move aligns with Birdnest’s strategic ambition to collaborate with real estate developers, institutional investors, and independent property owners.
Birdnest is a homegrown proptech startup offering tech-enabled rental management services that simplify processes such as checking in, making rent payments, and unlocking doors. The startup manages a portfolio of over 200 properties across Egypt, catering to both short and long-term rentals. Birdnest also provides furnishing services, featuring “pre-curated designs,” as detailed on their website.
Arch Capital served as Birdnest’s financial advisor, while White & Case provided legal advisory services to Beltone.
