BirdNest
Egyptian proptech that furnishes and manages short- and long-term rental units and boutique stays. Beltone Venture Capital partially exited in August 2026 at a reported 3.5x return.
Industry: Furnished rental and boutique hospitality | Location: Egypt | Founded: 2019
About BirdNest
BirdNest is an Egyptian proptech and hospitality company that furnishes and manages properties for short- and long-term rental. Sources date its founding to 2020 and name Mostafa El-Nahawy (also spelled Elnahawy) and Ahmed Fadda as co-founders and co-CEOs. Daba Finance has described it as running a technology platform for boutique hotels and holiday homes, with services covering property management, bookings and guest stays.
In May 2024 BirdNest closed a pre-Series A round for a 20 percent stake, led by Beltone Venture Capital, the venture arm of Beltone Holding, together with CI Venture Capital, a unit of the UAE's Citadel International Holding. The amount was not disclosed. At the time the company reported a portfolio of more than 200 properties across Egypt and said the funds would go to a regional quality team, proprietary technology and marketing, with expansion planned in Egypt and in Athens, Dubai and Riyadh. Those were plans; the reports reviewed do not confirm that the foreign launches have happened. A more recent report put its Cairo footprint at about 450 rental units in the Fifth Settlement area, and BirdNest has partnered with Al Ahly Sabbour Developments to offer laundry, maintenance and concierge services to tenants.
On 3 August 2026 Beltone announced a partial exit from BirdNest, reporting a 3.5 times return on invested capital and an 80 percent internal rate of return over a two-year holding period. The sale covered both Beltone's direct stake and its indirect holding through a joint fund with Citadel International Holdings, and Beltone kept a strategic stake. The buyer, price and valuation were not disclosed. Because the exit was partial, the final return on the investment is not yet fixed, as Daba Finance noted. Beltone's CEO and managing partner Ali Mokhtar said the sale let the firm return capital to its investors while staying invested.
El-Nahawy said BirdNest achieved more than tenfold growth in US dollar revenue and reached profitability over the two years. TechScoop noted that dollar revenue is a hedge against devaluation of the Egyptian pound, and framed the deal as a proof point for Egypt's venture market, which is active by deal count but has had few exits.
Leadership
- Mostafa Elnahawy, Founder
- Ahmed Fadda, Co-founder and Co-Chief Executive Officer
- Mostafa Elnahawy, Founder