Egyptian property technology (proptech) startup Nawy has raised a total of $75 million in funding to expand its operations across the Middle East and North Africa (MENA) region and enhance its artificial intelligence (AI) powered real estate services.
The funding comprises $52 million in Series A equity led by Partech Africa, with participation from investors including e& Capital (Etisalat and), March Capital Investments, Verod-Kepple Africa Ventures, Development Partners International (DPI) via the Nclude Fund, VentureSouq, Shorooq Partners, Outliers, HOF Capital, and Plug and Play.
An additional $23 million in debt financing was secured from major Egyptian banks to support the company’s growing mortgage offering, Nawy Now.
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Founded in 2019 by Mostafa El-Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, Nawy has rapidly evolved from a property listings platform into a comprehensive real estate ecosystem.
Its services now include mortgage financing (Nawy Now), fractional ownership (Nawy Shares), asset management (Nawy Unlocked), and brokerage enablement (Nawy Partners).
The company reported a gross merchandise value (GMV) of over $1.4 billion in 2024 and boasts a monthly user base exceeding one million. Despite economic challenges, including a 69 percent devaluation of the Egyptian pound, Nawy’s revenue in U.S. dollar terms has grown more than 50-fold over the past four years.
“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.
The fresh capital will be utilized to deepen Nawy’s product offerings, invest in AI-driven technology, and facilitate geographic expansion into markets such as Morocco, Saudi Arabia, and the United Arab Emirates.
Nawy’s innovative approach aims to address longstanding inefficiencies in the real estate sector by providing transparent, accessible, and tech-enabled solutions for property buying, selling, financing, and management.
