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Egypt’s Nawy, the largest proptech in Africa, raises $52M to take on MENA
Egypt's Nawy, Africa's largest proptech platform, has raised $52M in Series A funding to enhance real estate transparency and efficiency across MENA. Founded in 2019 by Mostafa El Beltagy, Nawy combines property listings with brokerage services, expanding its ecosystem to include fractional ownership and mortgage products, aiming to target North Africa and the Middle East for growth.
Key points
- Nawy was founded in 2019 to address inefficiencies in the Egyptian real estate market.
- It raised $52M in Series A funding from Partech Africa, plus $23M in debt financing, totaling $75M.
- Nawy has over 3,000 brokerages using its platform and attracts over 1 million monthly visitors.
- The company's revenue has grown over 50x in four years through diverse products addressing market demand for real estate.
- Planned expansion includes North Africa and the Middle East, with an emphasis on acquiring smaller companies.
Why it matters
- The rise of proptech aligns with the global shift towards digital transformation in real estate.
- In 2025, emerging market economies are increasingly investing in tech-driven solutions for traditional industries.
- Nawy's integration of AI and other tech innovations reflects broader IT trends prioritizing efficiency and customer experience.
Nawy's successful funding round highlights the growing demand for technology in real estate, positioning it to significantly impact the MENA market while demonstrating resilience and innovation in the face of economic challenges.