Birdnest closes Beltone Venture Capital-led pre-Series A funding
Updated 5/23/2024 10:41:00 AM
Arab Finance: The proptech startup Birdnest has successfully closed a significant pre-Series A funding round, led by major investors including Beltone Venture Capital, a wholly-owned subsidiary of Beltone Holding, and CI Venture Capital, as per an emailed press release.
This company will use this funding to expand its regional quality team, optimize proprietary technologies, and launch marketing initiatives that boosts its market position.
The fund will also help the company extend its presence in Egypt and scale up its operation across global markets, including Athens, Dubai, and Riyadh.
Moreover, the infusion of capital in exchange for a 20% stake in Birdnest confirms investor confidence in Birdnest’s vision and business model.
"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," Mostafa El-Nahawy, CO-CEO of Birdnest, commented.
The partnership comes as part of Birdnest’s strategy to collaborate with real estate developers, institutional investors, and independent property owners to position itself as a leading short-term rental platform in the region.
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