Cairo, Egypt — Nawy, recognized as Africa’s largest property technology platform, has successfully raised $52 million in Series A equity funding. This funding aims to enhance its operations, improve its technology, and expedite its expansion across the MENA region. Partech led the funding round, with contributions from several investors including e& Capital, March Capital Investments (MCI), Verod-Kepple Africa Ventures (VKAV), Endeavor Catalyst, and Shorooq, a leading alternative investment firm in MENA.

Additionally, Nawy has obtained $23 million in debt financing from major banks and financial institutions in Egypt. This financing is specifically allocated to support the company’s rapidly expanding mortgage offerings.

Founded in Egypt in 2019 by Mostafa El-Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, Nawy has swiftly emerged as the largest real estate technology company in Africa. The platform revolutionizes the processes of buying, selling, investing, financing, and managing properties. Its diverse product lineup includes Nawy Now, which offers a “Move Now, Pay Later” mortgage solution; Nawy Shares, a fractional ownership option; Nawy Unlocked, focused on property finishing and asset management; and Nawy Partners, which provides brokerages with advanced tools and technology.

As of 2024, Nawy boasts over $1.4 billion in Gross Merchandise Value (GMV) and a monthly user base that exceeds one million. Remarkably, Nawy’s revenue in U.S. dollar terms has increased more than fifty-fold in just four years, despite the Egyptian pound experiencing a 69% devaluation.

In reference to this significant funding, Mostafa El-Beltagy, Co-Founder and CEO of Nawy, stated, “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.”

What began as a simple listings platform has evolved into a comprehensive real estate ecosystem addressing various aspects of property transactions. Nawy’s offerings aim to resolve common issues in real estate, providing a seamless experience for users throughout their property journeys.

The MENA region is becoming a hotspot for real estate investment, driven by economic growth, urbanization, and a tech-savvy population. With ongoing infrastructure projects and a rising demand for both residential and commercial properties, Nawy is strategically positioned to take advantage of these opportunities.

The new funds will be used for expanding into new verticals within Egypt, entering new markets in the MENA region, and enhancing product offerings with a focus on artificial intelligence.

Tidjane Deme, General Partner at Partech, expressed enthusiasm about supporting Nawy’s mission, highlighting their deep market insights and ambitious plans for regional expansion, which position them as a leading player in the proptech sector in Africa and the Middle East.

This funding round signifies not just a financial milestone but also a pivotal moment for the real estate landscape in MENA. Nawy aims to digitize the industry, enhance liquidity, and introduce greater transparency and efficiency into a historically fragmented market.

Nawy is dedicated to transforming real estate transactions across the MENA region with innovative technologies and a commitment to enhancing accessibility and efficiency in the sector.