Egyptian proptech startup Nawy has raised $52 million in Series A funding led by Partech Africa, bringing its total funding to $75 million, including $23 million in debt.
Why it matters
Egypt’s real estate market is highly fragmented, with a lack of transparency and trust in traditional broker-driven models. Nawy is positioning itself as the tech solution to overhaul how properties are bought, sold, and managed.
Driving the news
- The company, founded in 2019 by Mostafa El Beltagy and team, combines listings with in-house brokerage services.
- Nawy’s model—paying brokers commissions upfront—has helped attract over 3,000 brokerages and more than 1 million monthly site visitors.
- The startup has expanded its services to include:
- Nawy Shares, enabling fractional property investments starting at $500.
- Move Now Pay Later, a financing option to ease Egypt’s limited mortgage access.
By the numbers
- Nawy has grown over 50x in dollar terms since launch.
- It ended 2024 with $1.4 billion in gross merchandise value.
What’s next
- The fresh capital will fund expansion into Morocco, Saudi Arabia, and the UAE.
- Nawy also acquired ROA, a property management startup, rebranding it as Nawy Unlocked to deepen its real estate service offerings.
- The company plans to integrate more AI capabilities as it positions itself as a regional proptech leader.
The bottom line
Nawy is betting that combining tech, transparency, and regional expansion will disrupt North Africa and the Middle East’s traditional property markets.
Source: Sharikat Mubasher
