Cairo-based proptech startup Nawy has secured $75 million in combined funding, including $52 million in Series A equity and $23 million in debt financing, the company announced today.
The equity round was led by Partech, with participation from e& Capital, March Capital Investments, Verod-Kepple Africa Ventures, and several other investors including Development Partners International via Nclude Fund, VentureSouq, Shorooq, and Endeavor Catalyst.
It previously raised $5 million in a 2022 seed round led by the Sawiris family office, after securing over $1 million in 2021 from the same backer and e& Group CEO Hatem Dowidar.
Founded in 2019 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El Beltagy, Nawy has evolved from a listings platform into what it calls a “full-stack ecosystem” for real estate. The company’s platform now encompasses mortgage financing, fractional ownership, asset management, and B2B brokerage enablement services.
It claims to have recorded over $1.4 billion in Gross Merchandise Value (GMV) in 2024 and grown its revenue 50x in USD terms over four years, even as the Egyptian pound lost 69% of its value during that period. The platform now serves more than one million monthly users.
Mostafa El-Beltagy, co-founder and CEO of Nawy, in a statement, said, “This investment is a major leap forward—fuelling our expansion, accelerating the transformation of our products using AI, and starting our mission to reinvent how real estate works across MENA and beyond.”
The fresh capital will be used to expand Nawy’s recently launched verticals in Egypt, enter new markets across the MENA region, including Saudi Arabia, UAE, and Morroco, and enhance its technology stack with an AI-first approach. The debt financing, secured from major Egyptian banks, will specifically support the growth of Nawy Now, the company’s mortgage financing solution.
Tidjane Deme, General Partner at Partech, commented on the investment, “We’re excited to support Nawy as they build the foundation for a modern, tech-driven real estate experience. Their team has deep market insights, coupled with ambitious regional expansion plans and exceptional execution, positioning them as the clear proptech champion in Africa and the Middle East.”