Egyptian proptech startup Nawy has raised a total of $75 million in funding—comprising $52 million in Series A equity and $23 million in debt financing—to accelerate its expansion across the Middle East and North Africa (MENA) region and to enhance its AI-driven real estate platform.
Founded in 2019 by Mostafa El-Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, Nawy began as a property listings platform, allowing users to browse homes online using customizable criteria such as unit space, price, and location. Over time, it has evolved into Africa’s largest real estate technology company, offering a comprehensive suite of services:
Nawy Now: A “Move Now, Pay Later” mortgage financing solution.
Nawy Shares: Fractional ownership options for real estate investments.
Nawy Unlocked: Services for property finishing, asset management, and rental monetization.
Nawy Partners: A platform providing brokerages with exclusive tools, tech-driven sales enablement, and enhanced commissions.
The company has facilitated over $1.4 billion in property transactions by the end of 2024, up from $38 million in 2020, reflecting a 50-fold increase in revenue over four years.
Strategic Funding and Expansion Plans
The recent $52 million Series A equity round was led by Partech, with participation from investors including e& Capital, March Capital, Verod-Kepple Africa Ventures (VKAV), Development Partners International (DPI) via Nclude Fund, VentureSouq, Shorooq Partners, Endeavor Catalyst, Outliers, HOF Capital, and Plug and Play.
An additional $23 million in debt financing was secured from major Egyptian banks to support the growth of Nawy Now, the company’s mortgage offering.
With this funding, Nawy plans to:
- Expand into new MENA markets, including Morocco, Saudi Arabia, and the United Arab Emirates.
- Enhance its AI-driven technology stack to improve user experience and operational efficiency.
- Grow its product offerings and enter new verticals within the real estate sector.
Investor Confidence and Market Impact
Investors have expressed strong confidence in Nawy’s vision and execution. Tidjane Deme, General Partner at Partech, stated, “We’re excited to support Nawy as they build the foundation for a modern, tech-driven real estate experience. Their team has deep market insights, coupled with ambitious regional expansion plans and exceptional execution, positioning them as the clear proptech champion in Africa and the Middle East.”
Ashley Lewis, Managing Partner at DPI Venture Capital, added, “Nawy is reimagining real estate through technology, financing innovation, and operational excellence. Their ability to integrate technology, mortgage solutions, and brokerage enablement into a full-stack model positions them as a leader not only in Egypt but across the region.”
With over one million monthly users and a network of more than 3,000 brokerages utilizing its platform, Nawy is poised to continue its rapid growth. The company’s focus on leveraging AI to streamline real estate transactions and its commitment to expanding across the MENA region underscore its ambition to redefine the property market landscape.
As Nawy embarks on this next phase, its integrated approach to property listings, financing, management, and brokerage services positions it to become a dominant force in the MENA real estate sector.
