Egyptian proptech startup, Nawy, has raised $75 million in funding to scale its real estate platform and accelerate regional expansion.
The round, which includes $52 million in equity led by Partech Africa and $23 million in debt financing from leading Egyptian banks, is one of the continent’s largest Series A rounds to date.
Founded by Mostafa El Beltagy alongside Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, Nawy began with a personal issue, trying to buy property in Egypt.
El Beltagy, a former Vodafone executive, quickly realised how inefficient the process was, relying on sales agents, navigating scattered listings, and enduring biased guidance.
“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,” said El Beltagy. “In this sector, everyone is incentivised to push you one way or another.”
That issue gave birth to a new model; a platform that doesn’t just list properties but supports users throughout the buying journey, from discovery to financing. Today, Nawy is building itself as a full-stack real estate platform, providing everything from listings and brokerage to innovative financing tools.
The $23 million debt financing supports Nawy’s flagship financial product, “Move Now, Pay Later,” which enables customers to buy homes through tailored instalment plans, filling a gap in a market where traditional mortgages are rare and difficult to access. “It’s mortgage packaged differently because mortgages are almost non-existent here,” El Beltagy added.
To strengthen this offering, Nawy earlier signed a funding agreement worth 1 billion Egyptian pounds with Contact Financial’s Med Wealth Funds. The deal gives users immediate access to homes with payment plans stretching up to 10 years.
The platform’s appeal isn’t limited to financing. Nawy also introduced fractional ownership through “Nawy Shares,” allowing individuals to invest in property with as little as $500, a strategic move to include Egypt’s middle class, many of whom have long been excluded from property investment.
Growth figures are striking. In just four years, Nawy claims to have increased its revenue 50-fold in dollar terms, despite a 69% drop in the Egyptian pound’s value. Its gross merchandise value (GMV) surged from $38 million in 2020 to over $1.4 billion in 2024.
To support this growth, the company has built a tech-driven backend used by more than 3,000 brokerages. The introduction of instant commission payouts, funded in advance, helped overcome early scepticism and got brokers to engage with the platform. Developers, now competing for visibility among more than a million monthly site visitors, provide access to live inventory.
Now the company is plotting its next phase, expansion is firmly on the table. Nawy is eyeing Morocco, the UAE, and Saudi Arabia as entry points into new markets. The company recently acquired ROA, a property management firm, and rebranded it as “Nawy Unlocked” to broaden its suite of services.
The funding round includes participation from a wide group of local and international investors: 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.
Partech’s General Partner, Tidjane Deme, who led the equity round, said: “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.”
