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

Tech Crunch - May 11th, 2025

Nawy, founded by Mostafa El Beltagy and partners in 2019, has secured $75 million in Series A funding to transform Egypt's fragmented real estate market. Led by Partech Africa, this round is one of the largest Series A rounds for an African startup, marking a significant milestone for the proptech industry. Nawy's platform combines property listings with brokerage services and recently expanded its offerings to include fractional ownership and innovative mortgage solutions, attracting over a million monthly visitors and reshaping the buying and selling landscape.

The rapid growth of Nawy, despite economic challenges such as currency devaluation, highlights the demand for real estate as a hedge against inflation. By expanding into North Africa and the Middle East, the company aims to capitalize on emerging markets in Morocco, Saudi Arabia, and the UAE. With the new funding, Nawy plans to enhance its product development and integrate AI into its processes, positioning itself as a regional proptech leader. The backing from prominent investors further underscores the platform's potential to modernize and streamline real estate transactions in the region.

Real Estate Egypt Middle East North Africa Series A Funding Nawy Mostafa El Beltagy Partech Africa Proptech

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RATING

7.2

Fair Story

Consider it well-founded

The article provides a comprehensive overview of Nawy's operations, highlighting its growth and strategic plans in the real estate market. It effectively communicates the company's achievements and the challenges it has overcome, making it informative for readers interested in business and technology. However, the article could be improved by incorporating a wider range of sources and perspectives to enhance its balance and credibility. While it is timely and addresses topics of public interest, the potential impact is limited by the lack of critical analysis or exploration of potential risks. Overall, the article is clear and engaging, but could benefit from additional context and transparency to strengthen its reliability.

Accuracy

The article presents a generally accurate depiction of Nawy's operations and achievements. Key factual claims, such as the founding year (2019) and the names of the founders, align with available data. The funding details, including the $52 million Series A and $23 million in debt financing, are consistent with reported figures. However, the claim that Nawy is Africa's largest proptech platform and the specific metrics of revenue growth and GMV require further verification. The article accurately describes Nawy's business model and market impact, but some statistics, such as market size and transaction volume, should be cross-checked with independent sources.

Balance

The article provides a balanced view of Nawy's operations and the challenges it faces in the real estate market. It discusses both the initial skepticism from developers and brokers and the strategies Nawy employed to overcome these hurdles. However, the article primarily focuses on the positive aspects of Nawy's growth and expansion plans, with limited exploration of potential drawbacks or criticisms. Including perspectives from industry experts or competitors could enhance the balance by providing a more comprehensive view of the market dynamics.

Clarity

The article is well-structured and clearly communicates Nawy's business operations and achievements. It uses straightforward language and logical progression to explain complex concepts, such as the proptech model and market dynamics. The tone is neutral, and the information is presented in a way that is easy to understand. However, some sections could benefit from additional context or definitions, particularly for readers unfamiliar with the real estate or proptech industries.

Source quality

The article relies on statements from Nawy's CEO and other company representatives, which are valuable but may be biased. It lacks references to independent sources or industry analysts that could provide an external validation of the claims. The inclusion of investor comments adds some credibility, but the article would benefit from a broader range of sources, such as market reports or expert opinions, to enhance its reliability.

Transparency

The article is transparent in presenting Nawy's business model, funding details, and expansion plans. It clearly attributes quotes to the CEO and outlines the company's strategies. However, it does not disclose any potential conflicts of interest, such as financial ties between the publication and Nawy or its investors. Greater transparency about the basis for certain claims, such as market size and growth metrics, would strengthen the article's credibility.