Egypt’s Nawy, the largest proptech in Africa, lands a $52M Series A to take on MENA

For decades, it is aimed at receiving property in Egypt, dealing with commission managing brokers, dealing with personal networks, dealing with commission managers and faced with commission managers and faced.

In 2019 MostyaAbdel-Azim Osman, Ahmet Rafea, Mohamed Abou Ghanima and Aly Rafea Nave bring transparency and efficiency to market. Now placing himself as a model of Africa, NAWY, VC company AFRIA, which has a model connecting property lists with brokerage services, won $ 52 million from a funding of Africa Africa.

A tour of $ 23 million in debt financing in Egypt is a total of $ 75 million, one of the largest series for Africa.

Joint founder and CEO El Beltdagy’s journey to the props began as an individual frustration. After several years, after working in corporate corporate cases, he wanted to invest in the real estate in Egypt, many people in a market that looks like hides against inflation and currency devaluation.

However, when navigating the process of receiving the property, there were problems with the lack of transparency and spreading biased advice.

“I realized what I almost realized about the market, almost what the developer took the developer, and he was very inefficient, he was very ineffective,” he said. “Everyone in this sector is encouraged to push you one or another.”

These challenges caused Nawy to help El Belfdagy, help people to buy, sell, invest in and manage property. The model connecting a property list platform with brokerage services, divided it in an industry dominated by agents with radically and offline relations.

To get real estate

Nawy first struggled to provide these lists. The developers were doubted to the value of Nawy, because they were not large enough to drive traffic to their lists. On the other hand, brokers saw Nawy as an opponent.

To create trust, Nawy has immediately submitted commission payments to brokers who have the first operation on the platform. This is a word of more than 3,000 brokers (for brokers), which is actively more than 3,000 brokers, which are actively more than 3,000 brokers, using live inventory and flexible payments.

In addition, Proptech based in Cairo, attracts more than one million visitors, competes for visibility with hundreds of developers. Most of the new Egyptian market covers about 150 developers, It’s worth $ 30 billionAccording to El Beltagy, based on 100,000 operations each year.

In the last few years, Nawy has expanded outside the list and brokerage services that have become a fully assembled real estate ecosystem. This includes a fractional property product that invests in property worth $ 500, which includes a fractional property product that has a property that is available for the average income population of Egypt.

In addition, NAWY has developed a mortgage product that allows users, employees to purchase through payment plans and financing options in a market in installment purchases.

“The real estate market is very stretched in the sense of reconstruction and reconstruction of most people. We believe that this product will be a little shift,” he said, “said El Beltdagy. “Mortgages are packaged differently, because mortgages are almost available here.” Added that Nawi’s $ 23 million debt facility supports this proposal.

Immunity against economic variability?

Despite the fact that the company lost 69% of the company’s value, Nawy’s revenue flows, which claims to be more than 50x in the last four years, claimed to increase more than 50x in the last four years.

EL BELTDAGY requires a majority of this growth to the demand for market real estate as hedging against inflation and currency devaluation. While the currency crisis affects local student, expatriate helped the flow of money.

As a result, NAWY is $ 1.4 billion in total goods (GMV) in 2024, over $ 1.4 billion in 2020.

With the fresh capital, Nawy, outside Egypt, plans to emerge rapidly as the most promising real estate markets in North Africa and the Middle East. Nawy targets Saudi Arabia and the UAE as the next markets (such as the UAE, platforms Frival And the property pistol has already a strong stretch.)

El Beltdagy promises to get small companies along the way. Recently, the beginning of the property management has achieved the beginning of ROA and expanded the product offers, as “Unlock Nawy”.

The two tranches have grown, these plans, including the development of the product and develop the AI, and to integrate the AI ​​between their processes and financing these plans.

Development partners of other notable investors who participate in the round include the International NCLute Foundation, E and Capital, Training Catalyst, Hoft Capital, March Capital, Plag and Play, Shorooq and Verod-Kepple African Enterprises.

“We are pleased to support Nawy when building a foundation for modern, technological real estate experience,” Tidjane Deme, the General Partner in Partner. “As the champions of open proph in Africa and the Middle East, the teams have deep market concepts combined with ambitious regional expansion plans and exceptional execution.”