Latest news with #MostafaElBeltagy
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.
Zawya
12-05-2025
- Business
- Zawya
Nawy, the largest proptech in Africa, raises a $52M Series A to take on MENA
Cairo, Egypt — Nawy, Africa's largest proptech platform, has raised $52 million in Series A equity funding to scale its operations, enhance its technology stack, and accelerate regional expansion. The 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 via the Nclude Fund, VentureSouq (VSQ), Outliers, HOF Capital, and Plug and Play and MENA's leading alternative investment firm, Shorooq. In addition, Nawy secured $23 million in debt financing from some of Egypt's largest banks and financial institutions, dedicated exclusively to fueling the company's rapidly growing mortgage offering. Founded in Egypt in 2019 by Mostafa El-Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, Nawy has rapidly grown into Africa's largest real estate technology company. Its platform transforms how people buy, sell, invest, finance, and manage properties. Nawy's expanding product portfolio includes Nawy Now ('Move Now, Pay Later' mortgage financing), Nawy Shares (fractional ownership), Nawy Unlocked (property finishing, asset management, and rental monetization), and Nawy Partners (empowering brokerages with exclusive tools, tech-driven sales enablement, and enhanced commissions). The company closed 2024 with more than $1.4 billion Gross Merchandise Value (GMV) and a monthly user base exceeding one million. Over the past four years, Nawy's revenue in U.S. dollar terms has grown more than 50-fold, even as the Egyptian pound lost 69% of its value. Nawy by the Numbers (2024): $1.4B+ Gross Merchandise Value (GMV) 1M+ monthly users 50x revenue growth in 4 years in USD despite 69% EGP devaluation In just four years, Nawy has not only scaled massively, it has consistently outperformed the market, setting a new benchmark for growth in real scaling fast and adapting even faster, the company turned volatility into momentum and built one of the most resilient growth stories in MENA proptech. ' This investment is a major leap forward—fueling our expansion, accelerating the transformation of our products using AI, and starting our mission to reinvent how real estate works across MENA and beyond,' said Mostafa El-Beltagy, Co-Founder and CEO of Nawy. A Full-Stack Ecosystem for Real Estate What began as a listings platform has grown into a full-stack ecosystem reshaping how real estate works in the region. Today, Nawy's product lines include: Nawy Now – A licensed mortgage solution offering faster approvals and 'Move Now, Pay Later' flexibility. Nawy Shares – Egypt's first off-plan fractional ownership product, opening up premium real estate investment to a broader audience. Nawy Unlocked – Nawy kicked off 2025 with the acquisition of ROA, a home finishing and asset management platform. The business has been rebranded as Nawy Unlocked, helping owners refurbish, monetize, and rent out idle or unfinished units to unlock asset value. Nawy Partners – A B2B platform enabling 3,000+ brokerages to close deals smarter with full visibility on the market's live inventory, direct access to developers, tech-driven sales tools, better commissions & flexible payouts. Each product tackles a different real estate friction point, from buying and financing to investing, asset management, and brokerage enablement. Together, they form a connected ecosystem that empowers users at every stage of the property journey and positions Nawy to scale seamlessly across the MENA region. Positioned for Regional Growth The MENA region is rapidly emerging as one of the world's most promising real estate markets, driven by rapid economic growth, increasing urbanization, and a young, tech-savvy population. With ongoing investments in infrastructure and real estate development, the region is seeing growing demand for both residential and commercial properties, creating substantial opportunities for investors looking to capitalize on one of the most dynamic markets in the world. With its Series A investment, Nawy is scaling its vision to reshape the real estate experience across Egypt, the wider MENA region, and beyond, using technology to bring transparency, accessibility, and efficiency to an industry long overdue for change. The new capital will be used to: "We're excited to support Nawy as they build the foundation for a modern, tech-driven real estate experience,' said Tidjane Deme, General Partner at Partech. '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.' A Turning Point for Real Estate in MENA This round marks more than just a funding milestone, it signals the rise of a new real estate infrastructure built for today's buyer, broker, and developer. Nawy is leading the charge to digitize the industry, unlock liquidity, and bring trust, speed, and transparency to a historically fragmented sector. About Nawy Nawy is Africa's largest proptech company, transforming real estate across the MENA region with cutting-edge technology. With AI-powered search, expert in-house brokerage, and innovative financing solutions, Nawy simplifies property transactions for consumers, brokers, and developers alike. Its growing portfolio includes Nawy Shares, Nawy Now, Nawy Partners, and Nawy Unlocked where it enhances accessibility, transparency, and efficiency. Nawy's vision is to play an integral role in every real estate transaction, driving innovation and shaping the future of the industry.. LINK: About Shorooq Founded in 2017, Shorooq is a multi-dimensional investment firm. Our venture capital and credit practice invests in the most innovative technology companies across the MENA region and beyond. We have built deep sectoral expertise in fintech, platforms, software, and deep tech. Shorooq has backed category leaders such as Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn and Lendo. Shorooq was built on the values of building with founders and identifying attractive returns for investors. We pride ourselves on a local presence across the UAE, Saudi Arabia, Egypt and Korea. Visit us at Shorooq refers to a group of companies that are affiliates of each other and which operate under this business name, of which Shorooq Partners Ltd (regulated by the ADGM Financial Services Regulatory Authority FSRA FSP: 190004 as a category 3C Fund Manager) is a member. Media Contact:: Tarek Fouad Chief Marketing Officer, Shorooq Shorooq Group Press: press@ Direct: tfouad@
TechCrunch
12-05-2025
- Business
- TechCrunch
Egypt's Nawy, the largest proptech in Africa, raises $52M to take on MENA
For decades, buying property in Egypt meant navigating a fragmented real estate market, relying on personal networks, dealing with commission-driven brokers, and facing developers more focused on selling than serving customer needs. In 2019, Mostafa El Beltagy co-founded Nawy to bring transparency and efficiency to the market. Now positioning itself as Africa's largest proptech platform, Nawy has raised $52 million in Series A funding, led by Africa-focused VC firm Partech Africa, validating its model of combining property listings with brokerage services. The round, which also includes $23 million in debt financing from Egypt's top banks, brings the total to $75 million, one of the largest Series As for an African startup. In 2022, it raised a $5 million seed round led by Egypt's wealthiest family, the Sawiris. CEO El Beltagy's journey into proptech began with personal frustration. After several years working in corporate jobs across multiple countries, the former Vodafone executive wanted to invest in real estate in Egypt, a market many people view as a hedge against inflation and currency devaluation. However, as he navigated the process of purchasing property, the lack of transparency and the prevalence of biased advice became glaring problems. 'I had no way to look at the market and understand what's out there, aside from going almost developer by developer, picking up their brochures and asking their salespeople questions, which was highly inefficient,' the CEO recounted. 'In this sector, everyone is incentivized to push you one way or another.' These challenges led El-Beltagy to build Nawy to help people buy, sell, invest in, finance, and manage property. Its model, combining a property listing platform with brokerage services, has set it apart in an industry still dominated by agents with entrenched, offline relationships. The chief executive launched the company alongside Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima and Aly Rafea. Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW Making real estate accessible At first, Nawy struggled to secure those listings. Developers were skeptical about Nawy's value because it wasn't big enough to drive traffic to their listings. Brokers, on the other hand, saw Nawy as a competitor. To build trust, Nawy introduced immediate commission payments, funded upfront, to brokers who made their first transaction on the platform. This shifted sentiment, leading to word-of-mouth growth that has seen over 3,000 brokerages actively using Nawy Partners (its product for brokers), accessing live inventory and flexible payouts. Additionally, the Cairo-based proptech attracts over a million monthly visitors, with hundreds of developers competing for visibility. About 150 developers cover most of Egypt's new build market, which is worth around $30 billion, based on 100,000 transactions annually, according to El Beltagy. Over the last few years, Nawy has expanded beyond listings and brokerage services, evolving into a full-stack real estate ecosystem. This includes Nawy Shares, a fractional ownership product that lets users invest in property with at least $500, making real estate accessible to Egypt's middle-income population, which has long been priced out. Additionally, Nawy has developed a mortgage product, 'Move Now Pay Later,' designed to allow users to buy through installment plans and financing options in a market where banks rarely offer loans for real estate purchases. 'The real estate market is very lopsided in the sense that most people are buying new build, not resale. We believe enabling this product will cause a bit of a shift,' El Beltagy said of the embedded finance product. 'It's mortgage packaged differently because mortgages are almost non-existent here.' He added that Nawy's $23 million debt facility backs this offering. Immune to economic volatility? These products have diversified Nawy's revenue streams, which the company claims to have grown more than 50x in dollar terms over the last four years, despite the Egyptian pound losing 69% of its value. El Beltagy attributes much of this growth to the market's demand for real estate as a hedge against inflation and currency devaluation. While the currency crisis did impact local demand, the influx of expatriate money helped offset the drop. As a result, the profitable Nawy closed 2024 with over $1.4 billion in gross merchandise value (GMV), up from $38 million in 2020. With fresh capital, Nawy plans to expand beyond Egypt into North Africa and the Middle East, regions rapidly emerging as some of the world's most promising real estate markets. Nawy is targeting Morocco, Saudi Arabia, and the UAE as its next markets (in the UAE for instance, platforms like Huspy and Property Finder already have strong traction.) El Beltagy mentions that the company will buy smaller companies along the way. Recently, it acquired the property management startup ROA and rebranded it as 'Nawy Unlocked,' expanding its product offerings. The Series A round, raised across two tranches, will fund these plans, including advancing product development and integrating AI across Nawy's processes, according to El Beltagy. Other notable investors participating in the round include Development Partners International's Nclude Fund, e& Capital, Endeavor Catalyst, HOF Capital, March Capital Investments, Outliers, Plug and Play, Shorooq Partners, VentureSouq, and Verod-Kepple Africa Ventures. 'We're excited to support Nawy as they build the foundation for a modern, tech-driven real estate experience,' said Tidjane Deme, general partner at Partech. '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.'
TechCrunch
11-05-2025
- Business
- TechCrunch
Egypt's Nawy, the largest proptech in Africa, lands a $52M Series A to take on MENA
For decades, buying property in Egypt meant navigating a fragmented real estate market, relying on personal networks, dealing with commission-driven brokers, and facing developers more focused on selling than serving customer needs. In 2019, Mostafa El Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea founded Nawy to bring transparency and efficiency to the market. Now positioning itself as Africa's largest proptech platform, Nawy has raised $52 million in Series A funding, led by Africa-focused VC firm Partech Africa, validating its model of combining property listings with brokerage services. The Series A round, which also includes $23 million in debt financing from Egypt's top banks, brings the total to $75 million, one of the largest Series A rounds for an African startup. Co-founder and CEO El Beltagy's journey into proptech started as a personal frustration. After several years working in corporate jobs across multiple countries, he wanted to invest in real estate in Egypt, a market that many people view as a hedge against inflation and currency devaluation. However, as he navigated the process of purchasing property, the lack of transparency and the prevalence of biased advice became glaring problems. 'I had no way to look at the market and understand what's out there, aside from going almost developer by developer, picking up their brochures and asking their salespeople questions, which was highly inefficient,' the CEO recounted. 'In this sector, everyone is incentivized to push you one way or another.' These challenges led El Beltagy to build Nawy to help people buy, sell, invest in, finance, and manage property. Its model, combining a property listing platform with brokerage services, has set it apart in an industry still dominated by agents with entrenched, offline relationships. Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW Making real estate accessible At first, Nawy struggled to secure those listings. Developers were skeptical about Nawy's value because they weren't big enough to drive traffic to their listings. Brokers, on the other hand, saw Nawy as a competitor. To build trust, Nawy introduced immediate commission payments, funded upfront, to brokers who made their first transaction on the platform. This shifted sentiment, leading to word-of-mouth growth that has seen over 3,000 brokerages actively using Nawy Partners (its product for brokers), accessing live inventory and flexible payouts. Additionally, the Cairo-based proptech attracts over a million monthly visitors, with hundreds of developers competing for visibility. About 150 developers cover most of Egypt's new build market, which is worth around $30 billion, based on 100,000 transactions annually, according to El Beltagy. Over the last few years, Nawy has expanded beyond listings and brokerage services, evolving into a full-stack real estate ecosystem. This includes Nawy Shares, a fractional ownership product that lets users invest in property with at least $500, making real estate accessible to Egypt's middle-income population, which has long been priced out. Additionally, Nawy has developed a mortgage product, 'Move Now Pay Later,' designed to allow users to buy through installment plans and financing options in a market where banks rarely offer loans for real estate purchases. 'The real estate market is very lopsided in the sense that most people are buying new build, not resale. We believe enabling this product will cause a bit of a shift,' El Beltagy said. 'It's mortgage packaged differently because mortgages are almost non-existent here.' He added that Nawy's $23 million debt facility backs this offering. Immune to economic volatility? These products have diversified Nawy's revenue streams, which the company claims to have grown more than 50x in dollar terms over the last four years, despite the Egyptian pound losing 69% of its value. El Beltagy attributes much of this growth to the market's demand for real estate as a hedge against inflation and currency devaluation. While the currency crisis did impact local demand, the influx of expatriate money helped offset the drop. As a result, Nawy closed 2024 with over $1.4 billion in gross merchandise value (GMV), up from $38 million in 2020. With fresh capital, Nawy plans to expand beyond Egypt into North Africa and the Middle East, regions rapidly emerging as some of the world's most promising real estate markets. Nawy is targeting Morocco, Saudi Arabia, and the UAE as its next markets (in the UAE for instance, platforms like Huspy and Property Finder already have strong traction.) El Beltagy mentions that the company will acquire smaller companies along the way. Recently, it acquired the property management startup ROA and rebranded it as 'Nawy Unlocked,' expanding its product offerings. The Series A round, raised across two tranches, will fund these plans, including advancing product development and integrating AI across Nawy's processes, according to El Beltagy. Other notable investors participating in the round include Development Partners International's Nclude Fund, e& Capital, Endeavor Catalyst, HOF Capital, March Capital Investments, Outliers, Plug and Play, Shorooq Partners, VentureSouq, and Verod-Kepple Africa Ventures. 'We're excited to support Nawy as they build the foundation for a modern, tech-driven real estate experience,' said Tidjane Deme, general partner at Partech. '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.'
