{"id":76770,"date":"2025-05-12T05:55:02","date_gmt":"2025-05-12T05:55:02","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2025\/05\/12\/egypts-nawy-the-largest-proptech-in-africa-raises-52m-to-take-on-mena\/"},"modified":"2025-05-12T05:56:17","modified_gmt":"2025-05-12T05:56:17","slug":"egypts-nawy-the-largest-proptech-in-africa-raises-52m-to-take-on-mena","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2025\/05\/12\/egypts-nawy-the-largest-proptech-in-africa-raises-52m-to-take-on-mena\/","title":{"rendered":"Egypt\u2019s Nawy, the largest proptech in Africa, raises $52M to take on MENA"},"content":{"rendered":"

<\/a>\n
<\/p>\n

\n

For many years, shopping for property in Egypt meant navigating a fragmented actual property market, counting on private networks, coping with commission-driven brokers, and dealing with builders extra centered on promoting than serving buyer wants.<\/p>\n

In 2019, Mostafa El Beltagy<\/a> co-founded Nawy<\/a> to deliver transparency and effectivity to the market. Now positioning itself as Africa\u2019s largest proptech platform, Nawy has raised $52 million in Collection A funding, led by Africa-focused VC agency Partech Africa, validating its mannequin of mixing property listings with brokerage providers.<\/p>\n

The spherical, which additionally consists of $23 million in debt financing from Egypt\u2019s high banks, brings the whole to $75 million, one of many largest Collection As for an African startup. In 2022, it raised a $5 million seed round<\/a> led by Egypt\u2019s wealthiest household, the Sawiris.<\/p>\n

CEO El Beltagy\u2019s journey into proptech started with private frustration. After a number of years working in company jobs throughout a number of international locations, the previous Vodafone govt wished to put money into actual property in Egypt, a market many individuals view as a hedge in opposition to inflation and forex devaluation.<\/p>\n

Nevertheless, as he navigated the method of buying property, the dearth of transparency and the prevalence of biased recommendation turned obvious issues.<\/p>\n

\u201cI had no approach to have a look at the market and perceive what\u2019s on the market, other than going nearly developer by developer, selecting up their brochures and asking their salespeople questions, which was extremely inefficient,\u201d the CEO recounted. \u201cOn this sector, everyone seems to be incentivized to push you a technique or one other.\u201d<\/p>\n

These challenges led El-Beltagy to construct Nawy to assist folks purchase, promote, put money into, finance, and handle property. Its mannequin, combining a property itemizing platform with brokerage providers, has set it aside in an trade nonetheless dominated by brokers with entrenched, offline relationships.\u00a0The chief govt launched the corporate alongside Abdel-Azim Osman<\/a>, Ahmed Rafea<\/a>, Mohamed Abou Ghanima<\/a> and Aly Rafea<\/a>. <\/p>\n

\n
\n

Techcrunch occasion<\/p>\n

\n

\n\t\t\t\t\t\t\t\t\tBerkeley, CA<\/span>
\n\t\t\t\t\t\t\t\t\t\t\t\t\t|<\/span>
\n\t\t\t\t\t\t\t\t\t\t\t\t\tJune 5<\/span>\n\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t
\n\t\t\t\t\tBOOK NOW<\/span>
\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n

Making actual property accessible <\/h2>\n

At first, Nawy struggled to safe these listings. Builders have been skeptical about Nawy\u2019s worth as a result of it wasn\u2019t sufficiently big to drive visitors to their listings. Brokers, alternatively, noticed Nawy as a competitor.<\/p>\n

To construct belief, Nawy launched fast fee funds, funded upfront, to brokers who made their first transaction on the platform. This shifted sentiment, resulting in word-of-mouth progress that has seen over 3,000 brokerages actively utilizing Nawy Companions (its product for brokers), accessing dwell stock and versatile payouts.<\/p>\n

Moreover, the Cairo-based proptech attracts over 1,000,000 month-to-month guests, with a whole lot of builders competing for visibility. About 150 builders cowl most of Egypt\u2019s new construct market, which is worth around $30 billion<\/a>, based mostly on 100,000 transactions yearly, in line with El Beltagy.<\/p>\n

Over the previous couple of years, Nawy has expanded beyond listings<\/a> and brokerage providers, evolving right into a full-stack actual property ecosystem. This consists of Nawy Shares, a fractional possession product that lets customers put money into property with at the least $500, making actual property accessible to Egypt\u2019s middle-income inhabitants, which has lengthy been priced out.<\/p>\n

Moreover, Nawy has developed a mortgage product, \u201cTransfer Now Pay Later,\u201d designed to permit customers to purchase by installment plans and financing choices in a market the place banks not often supply loans for actual property purchases.<\/p>\n

\u201cThe true property market could be very lopsided within the sense that most individuals are shopping for new construct, not resale. We imagine enabling this product will trigger a little bit of a shift,\u201d El Beltagy mentioned of the embedded finance product. \u201cIt\u2019s mortgage packaged otherwise as a result of mortgages are nearly non-existent right here.\u201d He added that Nawy\u2019s $23 million debt facility backs this providing.<\/p>\n

\n

Resistant to financial volatility?<\/h2>\n

These merchandise have diversified Nawy\u2019s income streams, which the corporate claims to have grown greater than 50x in greenback phrases over the past 4 years, regardless of the Egyptian pound shedding 69% of its worth. <\/p>\n

El Beltagy attributes a lot of this progress to the market\u2019s demand for actual property as a hedge in opposition to inflation and forex devaluation. Whereas the forex disaster did influence native demand, the inflow of expatriate cash helped offset the drop.<\/p>\n

In consequence, the worthwhile Nawy closed 2024 with over $1.4 billion in gross merchandise worth (GMV), up from $38 million in 2020.<\/p>\n

With recent capital, Nawy plans to broaden past Egypt into North Africa and the Center East, areas quickly rising as a few of the world\u2019s most promising actual property markets. Nawy is focusing on Morocco, Saudi Arabia, and the UAE as its subsequent markets (within the UAE as an illustration, platforms like Huspy<\/a> and Property Finder have already got robust traction.)<\/p>\n

El Beltagy mentions that the corporate will purchase smaller firms alongside the way in which. Not too long ago, it acquired the property administration startup ROA and rebranded it as \u201cNawy Unlocked,\u201d increasing its product choices.<\/p>\n

The Collection A spherical, raised throughout two tranches, will fund these plans, together with advancing product growth and integrating AI throughout Nawy\u2019s processes, in line with El Beltagy. <\/p>\n

Different notable traders taking part within the spherical embrace Improvement Companions Worldwide\u2019s Nclude Fund, e& Capital, Endeavor Catalyst, HOF Capital, March Capital Investments, Outliers, Plug and Play, Shorooq Companions, VentureSouq, and Verod-Kepple Africa Ventures.<\/p>\n

\u201cWe\u2019re excited to assist Nawy as they construct the inspiration for a contemporary, tech-driven actual property expertise,\u201d mentioned Tidjane Deme, common companion at Partech. \u201cTheir staff has deep market insights, coupled with bold regional enlargement plans and distinctive execution, positioning them because the clear proptech champion in Africa and the Center East.\u201d<\/p>\n<\/div>\n