Nawy Raises $75 Million to Expand Proptech Services

Beulah Godfrey

May 12, 2025
4 min read

Egyptian proptech startup Nawy has raised $75 million in a Series A round. The funding includes $52 million in equity and $23 million in debt from Egypt’s top banks. Partech Africa, a venture capital firm focused on African startups, led the round.

This is one of the largest Series A rounds for any African startup. It is also the biggest in Africa’s real estate tech sector.

Nawy will use the funding to expand into the Middle East and North Africa. The company plans to enter markets like Morocco, Saudi Arabia, and the UAE. These countries already have fast-growing property platforms, including Huspy and Property Finder.

To compete, Nawy will acquire smaller companies and improve its products. The company also plans to use artificial intelligence to automate more of its services.

The funding round attracted major investors. Alongside Partech, investors include Nclude Fund, e& Capital, and Endeavor Catalyst. Others like HOF Capital, Plug and Play, and Shorooq Partners also joined the round. VentureSouq and Verod-Kepple Africa Ventures were part of the deal as well.

Tidjane Deme, General Partner at Partech, praised Nawy’s mission. He said the team has strong market knowledge and bold plans to expand across the region.

Nawy’s Origin Story

Nawy was founded in 2019 by Mostafa El Beltagy and four partners. El Beltagy had trouble buying property in Egypt. He found the process slow, unclear, and full of biased advice. This frustration inspired him to build a better system.

He teamed up with Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea. Together, they created a platform that makes buying and managing real estate simpler and more transparent.

Today, Nawy offers more than just listings. It is a full real estate platform. Users can buy, sell, finance, and manage properties all in one place.

In the beginning, developers and brokers doubted the platform. To earn their trust, Nawy paid brokers their first commission upfront. This idea worked. Soon, thousands of brokers joined.

Nawy Partners Gains Momentum

Now, more than 3,000 brokerages use Nawy Partners. This tool gives brokers live listings and flexible commission payouts. Nawy’s platform also sees over one million monthly visitors.

Around 150 developers list properties on the site. They compete for attention in Egypt’s $30 billion new-build market, which has about 100,000 yearly transactions.

Nawy has launched new products to serve more people. One product is Nawy Shares. It lets users invest in property for as little as $500. This model helps middle-income Egyptians become property investors.

Another product, Nawy Now, offers a “Move Now, Pay Later” mortgage plan. It makes home buying easier in a market where bank loans are hard to get. The $23 million debt from the Series A round supports this plan.

Nawy Unlocked Turns Properties into Income

Nawy also bought ROA, a property management startup. It rebranded the company as Nawy Unlocked. This service helps owners turn empty homes into rental income. Nawy handles both the renovation and rental process.

Even with Egypt’s economic struggles, Nawy has grown fast. The local currency has lost 69 percent of its value. Yet, real estate remains a good way to protect wealth.

Nawy’s revenue has increased 50 times in US dollars over the past four years. Many people now use property as a safe investment.

In 2024, Nawy reported a gross merchandise value of over $1.4 billion. That’s a big jump from $38 million in 2020. The company has also reached profitability, proving that its model works.

Nawy’s Series A round builds on its earlier success. In 2022, it raised $5 million in seed funding from the Sawiris family office. The Sawiris family is the wealthiest in Egypt.

Nawy’s latest funding confirms its leadership in African proptech. It also shows growing investor trust in Egypt’s startup scene. According to Partech’s 2024 report, Egypt’s equity deals rose 48 percent in one year.