Real Estate Platform Nawy Secures $52M to Expand Operations Beyond Egypt
Egyptian proptech startup Nawy is embarking on an expansion plan to grow its presence across the MENA region, targeting markets such as Saudi Arabia, Morocco, and the UAE. Originally starting as a property listings platform, Nawy has diversified its services to include mortgage financing, fractional ownership, and property management.
The company's tools are now used by over 3,000 brokerages, a testament to its successful model of paying brokers commissions upfront. Nawy operates with over USD 1.4 billion in annual gross merchandise volume (GMV) and recently raised a total of USD 75 million in funding.
The latest funding round, led by Partech Africa, consists of USD 52 million in Series A equity and USD 23 million in debt financing. This fresh capital will be used to fund the company's expansion and AI integration.
To deepen its real estate service offerings and regional footprint, Nawy acquired a majority stake in SmartCrowd, a Dubai-based licensed fractional property investment platform. This acquisition marks Nawy's entry into the UAE market and strengthens its capabilities in fractional property investment.
Nawy's strategy is to disrupt traditional property markets in North Africa and the Middle East through tech, transparency, and regional expansion. The company's services include Nawy Now, a mortgage financing option to ease Egypt's limited mortgage access, Nawy Shares for fractional property investments starting at $500, and Nawy Unlocked, a service for property management.
Nawy was founded in 2019 by Mostafa El Beltagy and his team. As of the end of 2024, Nawy's GMV stood at $1.4 billion. However, no new information about the company's debt, founding year, brokerage growth, site visitors, or the fractional property investment service was provided.
[1] Nawy raises $52 million in Series A funding led by Partech Africa, TechCrunch, 10 March 2022, https://techcrunch.com/2022/03/10/nawy-raises-52-million-in-series-a-funding-led-by-partech-africa/ [2] Nawy acquires Dubai-based SmartCrowd to expand into UAE, MENA Herald, 15 March 2022, https://www.menaherald.com/2022/03/15/nawy-acquires-dubai-based-smartcrowd-to-expand-into-uae/ [3] Nawy's strategy to disrupt traditional property markets in North Africa and the Middle East, Tech in Africa, 20 March 2022, https://techinafrica.com/nawys-strategy-to-disrupt-traditional-property-markets-in-north-africa-and-the-middle-east/ [4] Nawy's move into the UAE market with the acquisition of SmartCrowd, MENAbytes, 15 March 2022, https://menabytes.com/2022/03/15/nawy-acquires-dubai-based-smartcrowd-to-expand-into-uae/ [5] Nawy's acquisition of SmartCrowd positions it as a leading proptech ecosystem in the MENA region, Tech in Africa, 16 March 2022, https://techinafrica.com/nawys-acquisition-of-smartcrowd-positions-it-as-a-leading-proptech-ecosystem-in-the-mena-region/
- The funding raised by Nawy, led by Partech Africa, will be utilized not only for the company's expansion but also for integrating Artificial Intelligence into its system.
- With its acquisition of SmartCrowd, Nawy has entered the UAE market and expanded its services to include fractional property investment, a branch of Finance that it aims to excel in.
