Egyptian Proptech Nawy Raises $52 Million as It Targets Expansion Across MENA

Egyptian real estate technology company Nawy has raised $52 million in Series A funding as it prepares to expand beyond its home market and compete across the Middle East and North Africa.

The equity round was led by Partech, with participation from e& Capital, March Capital Investments, Verod-Kepple Africa Ventures, VentureSouq, Endeavor Catalyst, Development Partners International through the Nclude Fund, Shorooq Partners, Outliers, HOF Capital, and Plug and Play.

Nawy has also secured debt financing from Egyptian banks and financial institutions to support its mortgage business. The company's own announcement puts that facility at $23 million, while Partech's announcement lists $24 million, making the equity round the clearer figure to use when describing the fundraise.

Nawy is moving beyond property listings

Nawy was founded in Egypt in 2019 by Mostafa El-Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea. The company started with a focus on helping people find and transact property, but its business has since expanded into several parts of the real estate market.

The company now operates products covering mortgages, property investment, property management, and services for real estate brokers.

That expansion is central to Nawy's plans for the next stage of its business. Rather than relying only on property listings and brokerage activity, the company is building services around several steps in a property transaction, from finding a home to financing an acquisition and managing an existing unit.

Its expansion comes at a time when real estate technology companies across the MENA region are attracting attention from investors and consumers. Egypt remains Nawy's main market, but the company now wants to take its model into other countries.

What Nawy's funding will pay for

Nawy said the new investment will support its operations in Egypt, expansion into additional MENA markets, product development, and work on its artificial intelligence and data infrastructure.

The company is also using its debt facility to grow Nawy Now, its mortgage product. The financing is intended for the company's home-financing business rather than its wider corporate expansion.

Nawy's approach reflects a larger shift in the company's business model. Property discovery was the starting point, but financing and other financial services can give the company more ways to participate in a transaction.

The company's mortgage product is designed around a market where conventional home loans have historically played a smaller role. TechCrunch reported that Nawy developed the product around installment plans and financing options, with the company positioning it as a different way for buyers to finance property purchases.

Nawy's business has grown sharply since 2020

Nawy reported more than $1.4 billion in gross merchandise value in 2024, compared with $38 million in 2020. The company also said its monthly user base had passed one million.

TechCrunch reported that Nawy's revenue in U.S. dollar terms had increased by more than 50 times over four years, despite the Egyptian pound losing a large portion of its value during that period.

The numbers are notable because Egypt's currency and economic conditions have created a difficult environment for businesses that measure growth in dollars. Nawy says demand for property remained strong partly because real estate can be viewed by buyers as a way to preserve wealth during periods of inflation and currency weakness.

The company has also benefited from money sent into Egypt by citizens living abroad, according to comments reported by TechCrunch. Those inflows helped offset some of the pressure created by weaker local purchasing power.

From listings to a wider property platform

Nawy's product range now includes several services aimed at different parts of the property market.

Nawy Now focuses on home financing. It is a licensed mortgage product built around financing and installment options for property buyers. The company's new debt facility is intended to support this part of the business.

Nawy Shares gives customers access to fractional ownership of property. According to Nawy, users can invest in certain real estate assets without having to purchase an entire property themselves.

Nawy Unlocked was introduced after Nawy acquired ROA in early 2025. The service focuses on helping property owners make use of unfinished or underused units through refurbishment, rental, and other property-management services.

Nawy Partners serves real estate brokers. The company says more than 3,000 brokerages use the platform to access property inventory, work with developers, and manage transactions.

Together, these businesses give Nawy a wider role in real estate than a traditional property marketplace. The company can work with buyers, sellers, developers, brokers, investors, and property owners through different products.

Why MENA is the next target

Nawy's expansion plans are focused on markets outside Egypt, with Morocco, Saudi Arabia, and the United Arab Emirates among the countries identified by the company as potential targets.

Each of these markets already has established property technology companies, which means Nawy will be entering markets where consumers have existing options for searching for homes, financing property, and working with agents.

The UAE, for example, has established platforms such as Property Finder and Huspy. That makes regional expansion a very different challenge from building market share in Egypt, where Nawy has already developed relationships with developers and brokers.

Nawy's existing network could still give it useful experience as it enters new markets. The company has spent several years building systems around property inventory, brokerage relationships, financing, and investment products in Egypt.

Building relationships with brokers

One of Nawy's early challenges was convincing both developers and brokers to participate in its platform.

TechCrunch reported that developers initially questioned whether Nawy could generate enough traffic to justify listing their properties, while some brokers viewed the startup as a competitor.

Nawy responded by changing how it worked with brokers. Among its early tactics was paying commissions immediately after a broker completed a first transaction through the platform. That helped the company build trust and encouraged more brokers to use its services.

The result has been a broker network that Nawy says now includes more than 3,000 brokerages.

That network could become useful as Nawy expands because property transactions depend heavily on local relationships. A technology platform can make listings easier to discover, but closing property deals often requires developers, agents, buyers, lenders, and other parties to work together.

Fractional property investment adds another revenue stream

Nawy's expansion into fractional ownership is another example of how the company is trying to reach customers who may not be able to purchase an entire property.

Nawy Shares allows users to take fractional positions in selected real estate opportunities. TechCrunch reported that the product starts at $500, putting the entry point below the cost of buying a full property.

The model gives Nawy a way to participate in property investment without limiting its audience to people who can afford a complete residential or commercial asset.

It also broadens the company's relationship with users. Someone may first encounter Nawy while searching for a home, while another customer may use the platform as an investment service instead.

AI is also part of Nawy's expansion plans

The company plans to use part of the new capital to develop its technology and data infrastructure, including artificial intelligence applications.

Nawy has not positioned AI as a standalone product. Instead, the technology is expected to become part of the company's wider platform and internal processes.

For a property marketplace, AI can potentially be applied to areas such as property search, recommendations, data analysis, customer support, and transaction workflows. The exact applications Nawy will deploy will determine how much of an effect this investment has on the customer experience.

What the $52 million means for Nawy

The Series A gives Nawy considerably more financial room to expand after several years of growth in Egypt.

The company is entering this stage with an established user base, relationships with developers and brokers, several property products, and a mortgage business. The challenge now is taking that model into countries with different regulations, property markets, consumer habits, and competitors.

Partech, which led the funding round, said it sees Nawy as a leading proptech company in Africa and the Middle East. The investment gives the firm a direct stake in Nawy's regional expansion plans.

For Nawy, the bigger test will come after the fundraising announcement. Expanding a property platform across borders requires more than replicating the same website in another country. The company will need to build local developer relationships, understand each country's property rules, establish broker networks, and adapt its financing products to local conditions.

What comes next for Nawy

Nawy's immediate focus is expected to remain on strengthening its Egyptian business while preparing to enter additional MENA markets.

The $52 million equity round gives the company capital for that expansion, while the separate debt financing gives its mortgage business room to grow.

The company's progress will now be measured not only by the amount of property traded through its platform, but also by whether its wider collection of services can work across different markets.

If Nawy can reproduce its relationships with developers and brokers outside Egypt while building demand for its financing, investment, and property-management products, the company could become a larger regional player in MENA's property technology sector.

For now, the Series A marks a new stage for the Egyptian startup. Nawy has spent the past several years building its position in Egypt. Its next test is whether that model can travel successfully across the wider region.

Sources: TechCrunch's report on Nawy's Series A, Nawy's funding announcement, and Partech's announcement.