Egypt-based property technology (proptech) company Nawy has raised $52 million in a Series A equity funding round to expand its operations in Egypt, enhance its AI and data infrastructure, and fast-track regional growth.
Latest Funding Round
The new equity round was led by Partech, with participation from e& Capital, March Capital Investments (MCI), Verod-Kepple Africa Ventures (VKAV) and Endeavor Catalyst. Development Partners International (DPI) Venture Capital via the Nclude Fund, Shorooq, VentureSouq (VSQ), Outliers, HOF Capital, and Plug and Play also participated in the latest fundraising round.
In addition, Nawy secured $23 million in debt financing from Egyptian banks and financial institutions, earmarked to fuel the company’s mortgage vertical.
Launched in 2019 by Mostafa El-Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, Nawy helps users to buy, sell, invest, finance, and manage properties.
Its product portfolio includes the mortgage solution “Nawy Now,” the fractional ownership product “Nawy Shares,” and Nawy Unlocked, a property finishing, asset management, and rental monetization. Its offerings also include Nawy Partners, a B2B platform enabling over 3,000 brokerages to close deals with direct access to developers, and tech-driven sales tools.
Supports Expansion
“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.
Nawy had surpassed $1.4 billion in gross merchandise value (GMV) by the end of 2024, up from just $38 million in 2020, and boasted over 1 million monthly users. Remarkably, its revenue in US dollar terms grew more than 50 times over four years, despite a 69% depreciation in the Egyptian pound.
Nawy has already kicked off 2025 with the acquisition of ROA, a home finishing and asset management platform. The business has been rebranded as Nawy Unlocked, helping owners refurbish, monetize, and rent out idle or unfinished units to unlock asset value.
Earlier, the company had secured $5 million in a seed funding round in 2022 led by the Sawiris family office.
Regional Fundraising
The Middle East and North Africa (MENA) region is rapidly emerging as one of the world’s most promising real estate markets, buoyed by rapid economic growth, increasing urbanization, and a young, tech-savvy population. With ongoing investments in infrastructure and real estate development, the region is seeing robust demand for both residential and commercial properties, according to Nawy.
The proptech sector in the MENA region recorded a major funding surge in 2024, with startups raising a total of $239 million across 25 deals, according to Wamda. Among the most recently funded startups was Saudi-based property technology startup Rize, which raised $35 million in a Series A funding round in January 2025.
Other companies that secured funding in 2024 include rent-now-pay-later startup Keyper, Saudi-based Ejari, the Dubai-based real estate investment platform, Stake and Dubai-based PRYPCO.
Content Courtesy – Forbes Middle East
