Latest news with #Shorooq
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@
Yahoo
21-04-2025
- Business
- Yahoo
UAE doubles down on crypto despite $5B token crash and regulatory heat
It's inevitable in the world of crypto: increased adoption leads to more risk. Last week, a token issued by a Hong Kong blockchain company backed by Abu Dhabi's Shorooq Partners plunged 90% in just a few hours, wiping out $5 billion in market value. The company had previously signed a $1 billion tokenization deal with Dubai property developer DAMAC Group. Around $250 million worth of the token was sold in the week leading up to the crash — Shorooq denied selling, news site AGBI reported. Just days earlier, Abu Dhabi regulators fined crypto platform Hayvn $12.5 million and banned its CEO for 'unlicensed financial services activity.' No client funds were lost. Still, the UAE remains bullish on the space. MGX — backed by Mubadala and AI firm G42 — recently invested $2 billion in the world's largest crypto exchange Binance. And Abu Dhabi-based DWF Labs disclosed a $25 million purchase of tokens tied to US President Donald Trump's crypto venture, becoming one of its biggest holders. Sign in to access your portfolio
Wamda
26-02-2025
- Business
- Wamda
Saudi Arabia's CQR raises $3 million to scale AI capabilities
Saudi Arabia-based cybersecurity firm CQR has secured a $3 million funding round led by Shorooq. Founded in 2023 by Naser Aldossary, CQR provides businesses with AI-driven, product-based cybersecurity solutions. This investment will accelerate CQR's ability to scale and expand its AI capabilities. Press release: CQR, Saudi Arabia's leading Operational Technology (OT) cybersecurity firm, has successfully secured a $3 million funding round led by Shorooq, one of the region's most dynamic investment firms. This strategic investment marks a pivotal moment for CQR as it accelerates its mission to fortify the security of critical infrastructures, including oil & gas, manufacturing, power plants, and smart cities, through its pioneering product-centric approach. CQR, pronounced "Secure," is setting a new industry standard by shifting OT cybersecurity from traditional service-heavy models to scalable, AI-driven, product-based solutions. At a time when the IT-OT convergence is exposing industrial environments to heightened cyber threats, CQR is redefining how mission-critical operations are protected—eliminating costly downtime risks, ensuring regulatory compliance, and enabling organizations to deploy cybersecurity solutions at scale without requiring deep expertise. Unlike conventional security firms that rely on service-heavy, resource-intensive approaches, CQR is empowering industries with cutting-edge, easily deployable cybersecurity products that integrate AI-powered threat detection, risk scoring, and automated response mechanisms. CQR's flagship product is designed to address the complex cybersecurity needs of national infrastructure and industrial giants. "Cyber threats in OT environments are evolving rapidly, and traditional security models are no longer enough. At CQR, we are reengineering cybersecurity for industrial operations—building innovative, product-driven solutions that make OT security accessible, efficient, and highly scalable," said Naser Aldossary, Founder & CEO of CQR. "This investment will accelerate our ability to scale, expand our AI capabilities, and ensure that industries dependent on OT systems remain resilient against emerging threats." Shorooq's decision to lead this funding round is a testament to CQR's market leadership, technological excellence, and strategic importance in the cybersecurity ecosystem. "Our investment in CQR aligns with our vision to support transformative technology companies that address critical industry challenges," said Yousef Albabtain, Partner at Shorooq. "CQR's product-driven cybersecurity approach is disrupting a traditionally service-heavy industry, making OT security more accessible, efficient, and scalable. We believe their solutions will become an industry standard, and we are excited to support their growth." CQR operates at a time when nation-state actors and cybercriminal groups are aggressively targeting critical infrastructure. A single cyberattack on OT environments can cause catastrophic financial losses, operational shutdowns, and even national security threats. With deep industry expertise—rooted in its leadership team's experience at Aramco, Dragos, and other leading OT security firms—the company positions itself as the preferred cybersecurity partner for governments, industrial giants, and regulated sectors. CQR's expansion strategy aligns with Saudi Arabia's Vision 2030, which prioritizes cybersecurity sovereignty and industrial protection. "Every nation must cultivate its own cybersecurity expertise. OT Cybersecurity is not just an IT concern-it is a matter of national security," said Pierre Noel, former CSO of Microsoft Asia and Worldwide CISO of Huawei. "CQR's approach represents the future of OT security-intelligent, product-driven, and built to secure the backbone of modern industry."
Wamda
20-02-2025
- Business
- Wamda
UAE's The Box secures $12.5 million debt from Shorooq
UAE-based self-storage services provider The Box has raised $12.5 million in a debt financing led by Shorooq. Founded in 2007 by Wadih Haddad, The Box provides personal storage and record management facilities, as well as moving services. The new funding will allow The Box to expand and develop new flagship storage facilities. Press release: Shorooq, the leading multi-dimensional investment firm renowned for its strategic commitments in the MENA region, leads a $12.5 million financing through its Credit Practice in The Box, a Dubai-based self-storage company addressing modern storage and logistical challenges faced by individuals and businesses. With an aim to expand and develop new flagship storage facilities, The Box is poised to transform the self-storage landscape across the UAE and enhance urban living convenience. Against the backdrop of a growing expat-dominated population, demand for flexible storage solutions continues to rise as consumers increasingly seek adaptable, stress-free ways to manage personal and business belongings. The Box is the clear market leader in the UAE, operating a significant portion of self-storage space in the market, designed to accommodate a wide range of personal and business needs. Offering units ranging from small lockers of 25 square feet up to 1,000 square foot rooms, and anything in between, The Box ensures flexible storage solutions tailored to various needs. Driving growth remains a core ambition for The Box. This newly raised capital will support the construction of a brand-new self-storage facility in the heart of Dubai, further expanding the company's already market-leading position. As urbanisation accelerates and the self-storage industry responds to the drive towards smart city infrastructure, The Box's role is becoming even more pivotal. The partnership with Shorooq complements The Box's vision to empower individuals, making room for tomorrow by redefining space management. Acknowledging the partnership's significance, The Box's Founder and CEO expressed with enthusiasm, "With Shorooq's strategic support, we are excited to expand our reach and deliver an exceptional storage experience. We look forward to elevating the standards of the self-storage industry in the region to meet the demands of modern urban living." Shorooq, known for its strategic foresight in investing across fintech, platforms, and deep tech, sees immense potential in The Box's consumer-orientated model and its alignment with urban growth trends. "The Box signals our commitment to backing transformative industries within the MENA region," explained Joe Barron, Senior Investment Professional within the Credit Practice at Shorooq. "The Box's approach matches our ethos of enhancing life through intelligent, responsive solutions, and we are excited to propel them into their next phase of growth with the construction of a new flagship facility in the heart of Dubai." Through this collaboration, both entities are set to champion innovative solutions that cater to today's fast-paced lifestyle, leveraging Shorooq's strategic insights to solidify The Box's position as a leader in self-storage. The anticipated launch of sustainable, state-of-the-art facilities across the region promises to meet the increasing demands for reliable storage solutions. Looking ahead, The Box aims to build robust, technology-enhanced spaces that offer seamless access and security, ensuring that every "green door" reveals more than just storage—it unveils a story, representing new opportunities and a new chapter in self-storage innovation.
Zawya
20-02-2025
- Business
- Zawya
The Box secures $12.5mln financing deal led by Shorooq to expand self-storage footprint in the UAE
Dubai, UAE – Shorooq, the leading multi-dimensional investment firm, renowned for its strategic commitments in the MENA region, leads a $12.5 million financing through its Credit Practice in The Box, a Dubai-based self-storage company addressing modern storage and logistical challenges faced by individuals and businesses. With an aim to expand and develop new flagship storage facilities, The Box is poised to transform the self-storage landscape across the UAE and enhance urban living convenience. Against the backdrop of a growing expat-dominated population, demand for flexible storage solutions continues to rise as consumers increasingly seek adaptable, stress-free ways to manage personal and business belongings. The Box is the clear market leader in the UAE, operating a significant portion of self-storage space in the market, designed to accommodate a wide range of personal and business needs. Offering units ranging from small lockers of 25 square feet up to 1,000 square foot rooms, and anything in between, The Box ensures flexible storage solutions tailored to various needs. Driving growth remains a core ambition for The Box. This newly raised capital will support the construction of a brand-new self-storage facility in the heart of Dubai, further expanding the company's already market-leading position. As urbanization accelerates and the self-storage industry responds to the drive towards smart city infrastructure, The Box's role is becoming even more pivotal. The partnership with Shorooq complements The Box's vision to empower individuals, making room for tomorrow by redefining space management. Acknowledging the partnership's significance, The Box's Founder and CEO expressed with enthusiasm, "With Shorooq's strategic support, we are excited to expand our reach and deliver an exceptional storage experience. We look forward to elevating the standards of the self-storage industry in the region to meet the demands of modern urban living." Shorooq, known for its strategic foresight in investing across fintech, platforms, and deep tech, sees immense potential in The Box's consumer-oriented model and its alignment with urban growth trends. "The Box signals our commitment to backing transformative industries within the MENA region," explained Joe Barron, Senior Investment Professional within the Credit Practice at Shorooq. "The Box's approach matches our ethos of enhancing life through intelligent, responsive solutions, and we are excited to propel them into their next phase of growth with the construction of a new flagship facility in the heart of Dubai." Through this collaboration, both entities are set to champion innovative solutions that cater to today's fast-paced lifestyle, leveraging Shorooq's strategic insights to solidify The Box's position as a leader in self-storage. The anticipated launch of sustainable, state-of-the-art facilities across the region promises to meet the increasing demands for reliable storage solutions. Looking ahead, The Box aims to build robust, technology-enhanced spaces that offer seamless access and security, ensuring that every "green door" reveals more than just storage – it unveils a story, representing new opportunities and a new chapter in self-storage innovation. ABOUT THE BOX: The Box is a leading innovator in the storage and logistics sector, dedicated to offering consumer-centric solutions that ensure peace of mind during life's transitions. A homegrown business rooted in Dubai, The Box is rapidly expanding with a focus on dominating the UAE market before widening its footprint into Saudi Arabia and Egypt. With 30 facilities, including a flagship 140,000-square-foot location, The Box is recognized for its Grade A certification and sustainable practices. For over a decade, it has championed customer excellence, earning industry awards and a clientele that largely grows through referrals. 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, so
