Proptech startup Birdnest has closed a pre-series A funding round led by Beltone Venture Capital — Beltone Holding’s venture capital arm — and the UAE’s Citadel International Holding’s CI Venture Capital, the startup said in a statement (pdf). The investors poured an undisclosed sum in Birdnest in exchange for a 20% stake in the company.

Where are the funds going? The funds will support the expansion of Birdnest’s regional team and the development of its technology and marketing strategies to extend the company’s market access, the statement said. The fresh funds will also help the company expand its footprint locally and step foot into new markets, namely Athens, Dubai, and Riyadh, as “part of Birdnest’s ambitious strategy to partner with real estate developers, institutional investors, and independent property owners.”

Birdnest? The home grown proptech startup provides tech-enabled rental management services facilitating checking in, making rent payments and unlocking doors. Birdnest has over 200 properties across Egypt in its portfolio for short and long-term rental. The startup also provides furnishing services for properties, offering “pre-curated designs,” the website said.

Advisors: Arch Capital acted as Birdnest’s financial advisor, while White & Case served as Beltone’s legal advisor.

Tags: