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

TechCrunch LogoTechCrunch1d ago

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

Quick Summary:

For decades, buying property in Egypt meant navigating a fragmented real estate market, relying on personal networks, dealing with commission-driven brokers, and facing developers more focused on selling than serving customer needs.

These challenges led El Beltagy to build Nawy to help people buy, sell, invest in, finance, and manage property.

We believe enabling this product will cause a bit of a shift,” El Beltagy said.“It’s mortgage packaged differently because mortgages are almost non-existent here.” He added that Nawy’s $23 million debt facility backs this offering.

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Article Details

Author / Journalist: Tage Kene-Okafor

Category: Technology

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-11 @ 07:10:00 (1 days ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1000 words

Reading Time: 6 minutes read

Sentences: 39 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 28556562

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