Egyptian prop-tech startup Nawy has raised US$75 million in debt and equity funding to fuel its expansion 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 initially started as a property listings platform, allowing users to search for houses based on customizable criteria such as unit space, price, and location.
Since its inception, Nawy has rapidly grown into Africa’s largest real estate technology company. Its product portfolio now includes Nawy Now (“Move Now, Pay Later” mortgage financing), Nawy Shares (fractional ownership), Nawy Unlocked (property finishing, asset management, and rental monetization), and Nawy Partners (empowering brokerages with exclusive tools, tech-driven sales enablement, and enhanced commissions).
Nawy raised a US$5 million seed round in 2022, followed by 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. Additionally, the company secured US$23 million in debt from major Egyptian banks to support its growing mortgage offering, Nawy Now.
With a monthly user base exceeding one million, Nawy plans to use the new capital to expand its verticals in Egypt, enter new MENA markets, and enhance its products with an AI-first approach.
“This investment is a major leap forward – fueling 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.
Tidjane Deme, general partner at Partech, expressed confidence in Nawy’s regional expansion plans: “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.”
