Nawy Raises $75M in Series A Funding for MENA Expansion

Egyptian real estate tech startup Nawy has successfully raised $52 million in its Series A funding round. This significant investment represents one of the largest single funding amounts ever secured in Egypt's property technology sector. The funding was primarily led by Partech Africa, with participation from a diverse group of international and regional investors, including Nclude (by DPI), e& capital, Shorooq Partners, VentureSouq, Endeavor Catalyst, March Capital, Outliers VC, HOF Capital, Plug and Play, and Verod-Kepple Africa Ventures. In addition to this equity, Nawy also obtained $23 million in debt financing from major Egyptian banks, bringing its total new capital to $75 million.

Founded in Cairo in 2019, Nawy operates a combined platform offering property listings, brokerage services, fractional ownership, and integrated financing solutions. The company stated that it will use these new funds to enhance its product offerings, invest in artificial intelligence technologies, and expand its operations geographically into Morocco, Saudi Arabia, and the UAE.

CEO Mostafa El Beltagy, one of the company's five co-founders, commented that the Middle East and North Africa region still lacks comprehensive digital solutions for real estate. He believes this funding will enable Nawy to accelerate its growth and continue developing integrated services that simplify and make homeownership more transparent.

This funding follows a period of rapid growth for Nawy. The total value of transactions facilitated by the company has dramatically increased from $38 million in 2020 to over $1.4 billion by the end of 2024. This growth is attributed to increasing domestic demand for real estate as a way to protect against inflation and unstable currency values.

To complement its sales platform, Nawy recently acquired property management startup ROA and rebranded it as Nawy Unlocked. This new division focuses on assisting property owners in converting underutilized or unfinished properties into rental units. The service includes providing financing for renovations, finding tenants, and managing rentals, with Nawy offering to cover up to 50% of finishing costs through loans repaid from rental income.

Mahmoud Abdel Maqsoud, General Manager of Nawy Unlocked, explained that this new service allows Nawy to maintain relationships with customers after a sale and help them realize the long-term value of their property investments.

Nawy's business model combines property search and transaction capabilities with personalized recommendations, advisory services, and financial products such as Nawy Shares (a fractional ownership product) and a "Move Now, Pay Later" scheme.

Internally, the company utilizes machine learning and its own CRM system to automate the distribution of leads and provide data-driven insights to its team of agents. Nawy currently employs over 200 people and has facilitated over 60,000 home searches since its inception.

The company previously raised a $5 million seed round in 2022 from the Sawiris family office, which remains a significant investor. At the time of the seed funding, Onsi Sawiris expressed his early belief in Nawy's model and his increased confidence in the company's potential.

Nawy's progress occurs as the digitization of real estate gains momentum across the MENA region, where fragmented developer markets, unclear pricing, and informal processes are still prevalent in many areas. Egypt's real estate sector, in particular, has seen increased adoption of technology due to rising inflation and demand for assets valued in US dollars.

While competitors exist in markets like the UAE and Saudi Arabia, Nawy believes its comprehensive "full-stack" model, which includes in-house agents, integrated financing, and AI-powered customer support, will give it a competitive edge across the region.

CEO El Beltagy stated that Nawy aims to make real estate transactions as seamless as a modern e-commerce experience.