Nawy Raises $75M, Expands Proptech Offerings in MENA

Nawy, a Cairo-based proptech startup founded in 2019 by Mostafa El Beltagy and partners, has raised $75 million in Series A funding—$52 million in equity led by Partech Africa and $23 million in debt from Egypt's largest banks—marking one of the largest Series A rounds for an African startup. Nawy's platform now serves over one million monthly users, features listings from about 150 developers, and enables more than 3,000 brokerages through its Nawy Partners program. The company has expanded its offerings to include 'Move Now, Pay Later' mortgage financing, fractional ownership, and property management tools. Despite initial resistance from traditional market players, Nawy's upfront commission payouts spurred adoption and established credibility. In 2024, Nawy achieved more than $1.4 billion in Gross Merchandise Value and saw a 50-fold increase in revenue in USD terms, even amid significant devaluation of the Egyptian pound. The company aims to expand across MENA and enhance its AI-driven real estate services.