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Nawy Raises $5m Seed Round

The Egyptian prop-tech startup allows users to browse houses online using customisable criteria such as unit space, price and location.

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Nawy said it has raised a US$5 million seed funding round to help it expand across the region.

Nawy has helped over 60,000 individuals locate homes, and sold over US$200 million worth of properties, and it is now targeting further growth after raising a US$5 million seed round led by the Sawiris family office.

Mostafa El Beltagy, Nawy CEO added: “I truly believe that technology is still scratching the surface when it comes to enabling and supporting the real estate industry in Egypt. Even though we have accomplished a lot in a short timespan, the opportunities we have in front of us to provide more services and capitalise on digital technologies, are still tremendously larger. We will be restless in expanding our business with the goal to truly transform the real estate market in the region, making the decision making process much more informed and transparent for the customers.”

Onsi Naguib Sawiris, said: “We were one of the initial investors in Nawy because we saw the company’s potential and shared its ambition. We immediately increased our investment when we realised how quickly they were expanding and saw the company’s trajectory coming to life. We are very excited about what the future holds especially as Nawy expands its services and furthers its momentum in the real estate market.”


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