Africa’s leading proptech platform, Nawy raises $52 million in Series A funding, led by Partech Africa—a venture capital firm focused on the continent. This funding round also includes $23 million in debt financing from Egypt’s top banks, pushing the total to $75 million—making it one of the largest Series A rounds ever for an African startup.
Earlier, in 2022, Nawy raised a $5 million seed round led by the prominent Sawiris family.
Mostafa El Beltagy co-founded Nawy in 2019 to bring greater transparency and efficiency to the real estate market. His journey into proptech began with personal experience. After working in corporate roles across several countries, including a position at Vodafone, he decided to invest in Egypt’s real estate market—widely seen as a hedge against inflation and currency depreciation. However, he quickly faced opaque processes and biased recommendations, which motivated him to launch Nawy.
“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 El Beltagy recounted. “In this sector, everyone is incentivized to push you one way or another.”
To tackle these challenges, El-Beltagy launched Nawy—a platform that simplifies the process of buying, selling, investing in, financing, and managing property. By blending a digital property listing platform with in-house brokerage services, Nawy offers a more transparent and efficient alternative to an industry still largely driven by traditional, offline agents and networks.
El-Beltagy co-founded the company with Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, bringing together a team committed to reshaping the real estate landscape in the region.
Additionally, the proptech platform draws over a million visitors each month, making it a competitive space for hundreds of developers vying for visibility. According to El Beltagy, around 150 developers dominate the majority of Egypt’s new-build real estate market, which is valued at approximately $30 billion and sees nearly 100,000 transactions annually.
In recent years, Nawy expanded beyond its core offerings of listings and brokerage to build a comprehensive, full-stack real estate ecosystem. The company introduced Nawy Shares, a fractional ownership product that lets users invest in real estate with as little as $500. With this initiative, Nawy aims to democratize property investment and open up access to Egypt’s middle-income population, who have traditionally faced barriers due to high entry costs.
Nawy introduced a mortgage solution called “Move Now, Pay Later,” enabling users to purchase property through installment plans and tailored financing options. This solution fills a significant gap in Egypt’s real estate market, where traditional banks rarely offer accessible mortgage loans to buyers.
“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.
With its newly secured capital, Nawy aims to expand beyond Egypt into North Africa and the broader Middle East—regions that are quickly becoming some of the most dynamic real estate markets globally. The company is setting its sights on Morocco, Saudi Arabia, and the UAE as its next target markets. In the UAE, for example, established platforms like Huspy and Property Finder already have a significant foothold, highlighting the competitive landscape Nawy is preparing to enter.
CEO El Beltagy explained that the Series A round—raised in two tranches—will fuel Nawy’s ambitious expansion plans, support ongoing product development, and drive the integration of AI across its operations.
Several prominent investors joined the round, including 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.”
