Nawy, a Cairo-based property technology startup, has raised USD 75 million (EGP 3.7 billion) in a Series A funding round, including USD 52 million (EGP 2.6 billion) in equity and USD 23 million (EGP 1.1 billion) in debt financing from Egypt’s largest banks. In 2019, frustrated by the challenges of navigating Egypt’s real estate market, where buyers had to rely on word of mouth, commission-driven brokers, and developer-focused sales tactics, Mostafa El Beltagy embarked on a mission to transform the industry. El Beltagy, a former Vodafone executive, co-founded Nawy to bring transparency and efficiency to the market. Now, six years later, the company is positioning itself as the leading proptech platform in Africa, and it has the capital to back that claim. The round was led by Partech Africa, a prominent venture capital firm focused on the continent. The raise marks one of the largest Series A rounds for an African startup to date and follows a USD 5 million (EGP 251.9 million) seed round in 2022, led by the Sawiris family, one of Egypt’s wealthiest dynasties. El Beltagy’s experience led to the founding of Nawy, alongside Abdel-Azim Osman, Ahmed…
