Egyptian prop-tech startup Nawy has raised US$75 million in debt and equity funding to help it expand across the Middle East and North Africa (MENA) region.
Founded in 2019 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El-Beltagy, Nawy began as a property listings platform, allows users to browse houses online using customisable criteria such as unit space, price and location.
The startup has rapidly grown into Africa’s largest real estate technology company, with its expanding product portfolio including Nawy Now (“Move Now, Pay Later” mortgage financing), Nawy Shares (fractional ownership), Nawy Unlocked (property finishing, asset management, and rental monetisation), and Nawy Partners (empowering brokerages with exclusive tools, tech-driven sales enablement, and enhanced commissions).
Having banked a US$5 million seed round in 2022, Nawy has followed with with a US$52 million Series A equity funding round led by Partech, with participation from e& Capital, March Capital, VKAV, DPI via Nclude, VentureSouq, Shorooq, and others. An additional US$23 million in debt was secured from major Egyptian banks to support its growing mortgage offering, Nawy Now.
The company, which has scaled rapidly and has a monthly user base exceeding one million, will use the new capital to expand on the new verticals in Egypt, enter new MENA markets, reinvent and grow the Nawy products with an AI-first approach.
“This investment is a major leap forward – fuelling our expansion, accelerating the transformation of our products using AI, and starting our mission to reinvent how real estate works across MENA and beyond,” said Mostafa El-Beltagy, co-founder and CEO of Nawy.
“We’re excited to support Nawy as they build the foundation for a modern, tech-driven real estate experience,” said Tidjane Deme, general partner at Partech. “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.”
