Egyptian proptech startup Nawy has secured a $52 million Series A round, marking one of the largest in African startup history. The round was led by Partech Africa, with an additional $23 million in debt financing from leading Egyptian banks, bringing the total to $75 million.
Nawy aims to transform the real estate experience by combining listings, brokerage, financing, and ownership into one unified platform.
Founded in 2019 by Mostafa El Beltagy and a team of co-founders, Nawy was born out of El Beltagy’s frustrations navigating Egypt’s opaque and inefficient real estate market. Today, the firm attracts over a million monthly users and works with more than 3,000 brokerages and 150 developers, offering services from traditional listings to innovative products like fractional ownership and installment-based mortgage alternatives.
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Tackling inefficiencies with a full-stack approach
Nawy’s ecosystem now includes Nawy Shares, which allows users to invest in property from just $500, and “Move Now Pay Later,” a novel financing product addressing Egypt’s limited mortgage options. Its real estate marketplace has also grown to include property management, rebranded as “Nawy Unlocked” following the acquisition of ROA.
Despite Egypt’s economic headwinds, Nawy’s platform saw over $1.4 billion in gross merchandise value in 2024, up from $38 million in 2020. The company claims its revenue has grown more than 50x in dollar terms over the last four years.
Eyeing MENA expansion with fresh capital
The funding will be used to scale across North Africa and the Middle East, targeting Morocco, Saudi Arabia, and the UAE. The company plans to fuel this expansion through strategic acquisitions and deeper integration of AI across its offerings.
Investors in the round include Nclude Fund (backed by Development Partners International), e& Capital, Shorooq Partners, VentureSouq, Plug and Play, Verod-Kepple Africa Ventures, and Endeavor Catalyst.
Partech General Partner Tidjane Deme said: “The deep market insight, strong team, and clear regional vision position them as the proptech champion of Africa and the Middle East.”
