Cairo-based proptech startup Nawy has secured $75 million in mixed funding, together with $52 million in Sequence A fairness and $23 million in debt financing, the corporate introduced immediately.
The fairness spherical was led by Partech, with participation from e& Capital, March Capital Investments, Verod-Kepple Africa Ventures, and a number of other different traders together with Growth Companions Worldwide by way of Nclude Fund, VentureSouq, Shorooq, and Endeavor Catalyst.
It beforehand raised $5 million in a 2022 seed spherical led by the Sawiris household workplace, after securing over $1 million in 2021 from the identical backer and e& Group CEO Hatem Dowidar.
Based in 2019 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El Beltagy, Nawy has advanced from a listings platform into what it calls a “full-stack ecosystem” for actual property. The corporate’s platform now encompasses mortgage financing, fractional possession, asset administration, and B2B brokerage enablement providers.
It claims to have recorded over $1.4 billion in Gross Merchandise Worth (GMV) in 2024 and grown its income 50x in USD phrases over 4 years, even because the Egyptian pound misplaced 69% of its worth throughout that interval. The platform now serves a couple of million month-to-month customers.
Mostafa El-Beltagy, co-founder and CEO of Nawy, in an announcement, stated, “This funding is a serious leap ahead—fuelling our enlargement, accelerating the transformation of our merchandise utilizing AI, and beginning our mission to reinvent how actual property works throughout MENA and past.”
The recent capital shall be used to broaden Nawy’s not too long ago launched verticals in Egypt, enter new markets throughout the MENA area, together with Saudi Arabia, UAE, and Morroco, and improve its know-how stack with an AI-first method. The debt financing, secured from main Egyptian banks, will particularly assist the expansion of Nawy Now, the corporate’s mortgage financing resolution.
Tidjane Deme, Normal Companion at Partech, commented on the funding, “We’re excited to assist Nawy as they construct the inspiration for a contemporary, tech-driven actual property expertise. Their group has deep market insights, coupled with bold regional enlargement plans and distinctive execution, positioning them because the clear proptech champion in Africa and the Center East.”
Publish Views: 12
Who Is Emma Jones, The New Small Enterprise Commissioner?
Emma Jones CBE, founding father of Enterprise Nation, has this week been appointed because the UK’s new Small Enterprise Commissioner….
What Are The Legal guidelines On Banning Children From Pubs?
Hospitality has had a troublesome few years with rising prices and tightened shopper spending limiting footfall. Within the midst of…