Latest news with #Partech
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.
Wamda
12-05-2025
- Business
- Wamda
Nawy secures $75 million in equity, debt to fuel MENA expansion
Egypt-based proptech Nawy has raised $52 million in a Series A equity round led by Partech, with participation from e& Capital, March Capital, VKAV, DPI via Nclude, VentureSouq, Shorooq, and others. An additional $23 million in debt was secured from major Egyptian banks to support its growing mortgage offering, Nawy Now. Founded in 2019 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El Beltagy, Nawy offers a full-stack real estate ecosystem including mortgage financing, fractional ownership, asset management, and B2B brokerage enablement. Nawy claims to have recorded over $1.4 billion GMV in 2024 and has grown revenue 50x in USD terms. It will use the funds to expand across MENA, enhance its AI-driven tech stack, and launch new verticals. In February 2022, Nawy closed a $5 million Seed funding round, led by the Sawiris family office. Press release: 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 fuelling the company's rapidly growing mortgage offer. 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 monetisation), 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, but it has also consistently outperformed the market, setting a new benchmark for growth in real estate. By 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—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,' 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, monetise, 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 urbanisation, 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.'
Wamda
05-05-2025
- Business
- Wamda
Money Fellows secures $13 million to expand digital saving offerings across Africa
Egypt-based fintech Money Fellows has raised $13 million in a strategic funding round co-led by Al Mada Ventures and DPI Venture Capital via the Nclude Fund, with participation from Partech, CommerzVentures, and other investors. Founded in 2017 by Ahmed Wadi, Money Fellows digitises traditional savings circles (ROSCA) to provide users across Africa with accessible tools for saving, borrowing, and investing. The funding will be used to enhance the company's digital platform, expand into new markets—particularly North Africa, with a focus on Morocco—and grow the team. In October 2022, the company finished the first close of its Series B round with a $31 million investment led by CommerzVentures, MEVP, and Arzan Venture Capital, as well as Invenfin and National Investment Company (NIC). Existing investors Partech, Sawari Ventures, 4DX, and P1Ventures also invested in the round. Press release: Money Fellows, Africa's leading fintech digital platform, has successfully raised $13 million in this new financing round. This strategic extension brings the total amount invested in the company to over $60 million since its inception. The new investment aims to enhance and upgrade the company's digital platform, especially as its user base expands to over 8.5 million and it continues to collaborate with more than 350 local and regional partners. This new round of investment is co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, with notable contributions from Partech and CommerzVentures, all of which are dedicated to driving innovation across emerging markets. This investment is set to support the company's expansion into new markets and drive a major shift in traditional methods of saving, borrowing, and investing—by digitising these services and delivering them in a modern, secure way. The goal is to advance financial inclusion and enable millions of individuals to access innovative and efficient financial services. 'Money Fellows is a critical player in Africa's financial ecosystem, combining the power of community-based savings with cutting-edge fintech to create a seamless and scalable solution,' said Ahmed Wadi, Founder and CEO of Money Fellows. 'This investment is a testament to the potential we have to further our mission of empowering individuals, especially in underserved regions, to save, invest, and access credit in a cost-effective and impactful way.' 'ROSCA's (Rotating Savings and Credit Association) are very old financial arrangements, with roots going back hundreds, if not thousands, of years.' said Omar Laalej, Managing Director at AMV. 'AMV was impressed by the modernised version of this business that Money Fellows was able to build, positively impacting thousands of families in Egypt. We are excited to partner up with the team as they expand their horizon and capabilities. 'DPI believes that the future of financial services in Africa lies in innovation, and Money Fellows is leading the way by modernising traditional savings systems,' said Mohamed Aladdin, General Partner at DPI Venture Capital. 'We are excited to partner with such a visionary company on a mission to enable seamless access to financial management tools for consumers in Egypt and look forward to seeing them expand their impact across the Middle East and Africa.' 'We are proud to support Money Fellows in their efforts to bring digital financial services to more people across Africa,' said Cyril Collon, General Partner at Partech. 'Their platform is uniquely positioned to leverage traditional savings practices while incorporating modern technology to drive financial inclusion on a massive scale.' Patrick Meisberger, Managing Partner at CommerzVentures, added, 'The impact that Money Fellows is making in transforming savings practices is exactly the kind of innovation we're eager to support. By digitising savings circles, they're not just changing the way people save – they're changing lives.' Founded in 2017 by Ahmed Wadi, Money Fellows has quickly established itself as a leader in the Fintech space. With this new funding, the company is poised to expand its operations into new markets, including North Africa, with a focus on Morocco, a key market for digital financial services. This growth is expected to be bolstered by major upcoming events such as the 2025 Africa Cup of Nations and the 2030 FIFA World Cup, which will significantly boost digital finance adoption across the region.
Zawya
10-04-2025
- Business
- Zawya
Africa Tech Summit returns to the London Stock Exchange
London – The 9th Africa Tech Summit London will convene at the London Stock Exchange on 6 June 2025, reinforcing the critical role of London as a gateway for capital and partnerships in Africa's continuously evolving tech ecosystem. This year's summit comes at a pivotal time for the African tech landscape, as tech ventures across the continent experienced a decrease in gross funding, with $3.2bn secured in 2024 - a 7% decline year-on-year, according to Partech's 2024 Africa Tech Venture Capital Report. The summit, kindly supported by the London Stock Exchange, Amazon Web Services, Flutterwave, Tola Mobile, 4G Capital and more, will host 350+ leaders, including founders, investors, and policymakers and feature keynotes, sector-focused panels, and fireside chats, alongside networking opportunities to accelerate business partnerships. The summit will spotlight pathways to foster growth, with a focus on climate tech, scaling, and cross-border partnerships. A dedicated Africa Climate Tech and Investment Summit on 5 June will highlight the continent's emergence as a climate innovation hub, with climate ventures securing $413.9m (33% of all African venture funding in 2024, per Dabafinance). Andrew Fassnidge, Founder of Africa Tech Summit, noted: "The African tech ecosystem has evolved from early-stage innovation to a maturing market primed for scale and exits. Returning to the London Stock Exchange for our ninth edition highlights its role in connecting African tech ventures with global capital. With climate tech surging, investor confidence rebuilding, and IPO pipelines strengthening, we're excited to see another chapter of Africa's tech story being written here." The London Stock Exchange's participation underscores its commitment to providing a premier platform for African companies seeking to scale. Currently, over 140 African businesses are listed on London markets, and the exchange actively facilitates access to international capital. Abi Ajayi, Head of Primary Markets, Middle East & Africa at the London Stock Exchange, commented: "We are delighted to welcome back the Africa Tech Summit. Our partnership reflects the London Stock Exchange's important role as a financing destination for African companies and our purpose of convening companies with capital. From fintech to climate tech, we are committed to supporting growth companies and delivering opportunities that enable companies to connect with investors, advisors, and the wider community." Early bird tickets for Africa Tech Summit London and Africa Climate Tech and Investment Summit are now on sale HERE About Africa Tech Summit Africa Tech Summit London connects tech leaders from the African ecosystem and international players under one roof, at the London Stock Exchange. Network and do business with tech corporates, investors, leading ventures, and industry stakeholders, driving business and investment forward. Following three consecutive sold-out years, the ninth edition will convene on June 6, 2025. For more information: Email: register@ Social: Twitter: @AfricaTechSMT LinkedIn: Africa Tech Summit Instagram: ATS Instagram Facebook: Africa Tech Summit HQ Media Contact: Emily Okello emily@
