Latest news with #Abdel-AzimOsman
Fintech News ME
15-05-2025
- Business
- Fintech News ME
Egypt's Nawy Raises $75M to Expand Real Estate Tech Across MENA
Nawy, a proptech platform based in Egypt, has raised US$52 million in Series A equity funding to scale operations, enhance its technology, and support regional expansion. The funding round was led by Partech, with participation from e& Capital, March Capital Investments (MCI), Verod-Kepple Africa Ventures (VKAV), Endeavor Catalyst, Development Partners International (DPI) Venture Capital through the Nclude Fund, VentureSouq (VSQ), Outliers, HOF Capital, Plug and Play, and Shorooq Partners. The company has also secured US$23 million in debt financing from major Egyptian banks and financial institutions to support the growth of its mortgage offering. Founded in 2019 by Mostafa El-Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, Nawy has grown to become one of the largest real estate technology firms in Africa. Its platform enables users to buy, sell, invest in, finance, and manage property through a range of products. These products include Nawy Now, which offers licensed mortgage solutions with faster approvals; Nawy Shares, a fractional ownership model for off-plan premium real estate; Nawy Unlocked, a recently rebranded asset management and property finishing service following the acquisition of ROA; and Nawy Partners, a B2B service for brokerages providing access to market inventory, developer connections, sales tools, and commission management. Nawy reports a Gross Merchandise Value of over US$1.4 billion in 2024, with a monthly user base exceeding one million. Revenue in USD has grown more than 50 times over the past four years, despite a 69% devaluation of the Egyptian pound during the same period. The platform, which initially launched as a listings service, has since developed into a multi-service real estate ecosystem aimed at addressing various challenges in the sector, from financing and investment to brokerage support and property management. Its tools and services are designed to streamline the property transaction process and improve market transparency. Nawy plans to use the new investment to expand its services within Egypt, enter new markets across the MENA region, and further develop its products with a focus on AI. According to Partech General Partner Tidjane Deme, the company's growth is backed by strong execution and market understanding, positioning it for broader regional presence in the evolving real estate landscape.
CairoScene
12-05-2025
- Business
- CairoScene
Nawy Raises $52M in Series A Equity to Expand Across MENA
The Egyptian full-stack real estate ecosystem secured USD 75 million in funding to continue its growth within and beyond Egypt. May 12, 2025 The Egyptian full-stack real estate ecosystem secured USD 75 million in funding to continue its growth within and beyond Egypt. Nawy, the Egypt-based proptech, has raised USD 52 million in a series A funding round, alongside an additional USD 23 million in debt financing from Egypt-based banks. The round was led by Partech Ventures with support provided by e& capital, March Capital Investments, Verod-Kepple Africa Ventures, Endeavor Catalyst, Nclude, VentureSouq, Outliers, HOF Capital, Plug and Play, and Shorooq Partners. Founded in 2019 as a simple listings platform, Nawy now provides a full-stack real estate ecosystem that covers buying, selling, financing, asset management, and brokerage support. In 2024 alone, it reported a Gross Merchandise Value (GMV) of over USD 1.4 billion in and more than a million monthly users. The startup is led by CEO Mostafa El Beltagy, who launched the company alongside co-founders Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima and Aly Rafea. This raise will serve as support for its 'Move Now, Pay Later' scheme in Egypt, as well as its expansion beyond Egypt into Saudi Arabia, Morocco, and the UAE.
