Egyptian proptech Nawy raises $5 million

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Egyptian proptech Nawy raises $5 million

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  • Cairo-based proptech Nawy has closed a $5m seed funding round, led by the Sawiris family office.
  • Founded in 2016 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea and Mostafa El Beltagy, Nawy provides its users with home browsing experiences with customizable criteria such as unit space, price and size. site.
  • The new investment will allow Nawy to provide more services and capitalize on digital technologies, and expand the business regionally.

Press release:

Nawy, an Egyptian proptech startup, concluded its seed funding round by securing $5 million in investment led by family office Sawiris.

Nawy currently employs over 200 people. To date, the company has helped over 60,000 people find their ideal home, sold over $200 million worth of properties, and helped thousands of families buy their dream home. The company has seen unprecedented growth this year thanks to its fundraising, where the annualized annual growth at the exit is 5.4 times the previous year.

Nawy is an online real estate platform that makes it easy to buy and sell real estate. The proptech startup makes the process simple, hassle-free and transparent for everyone involved, giving its customers a first-class experience.

Nawy’s platform contains a huge database of properties, where clients can search and filter their options using various criteria, such as unit space, price and location. This feature gives users complete autonomy over their real estate decisions, as opposed to more traditional methods that involve multiple parties and less informed decisions. In addition, Nawy uses machine learning and artificial intelligence algorithms to develop personalized recommendations for its customers, in addition to offering homes more suited to their specific needs and preferences. This centralized and fully integrated model makes the transfer between an online platform and the brokerage obsolete, ushering in a more efficient and user-friendly approach. Once clients are ready to make a purchase, Nawy’s brokerage arm provides a seamless transaction process using the expertise of seasoned agents and consultants at no additional cost. Nawy’s technology does not stop at the client side of the business. It deploys its own CRM with intelligent lead allocation, and assists its agents with the ability to access market information. Additionally, it also gives agents insight into their performance and suggests areas for improvement with recommendations through artificial intelligence and machine learning.

“We were one of the first investors in Nawy because we saw the potential of the business and shared its ambition. We immediately increased our investment when we realized how fast they were growing and saw the trajectory of the company. “business come to life. We are very excited that the future holds especially as Nawy expands its services and continues its momentum in the real estate market,” commented Onsi Naguib Sawiris, who leads the family office.

Asked about the future of Nawy, CEO Mostafa El Beltagy replied, “I truly believe that technology is only 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 time, the opportunities available to us to provide more services and capitalize on digital technologies are still much greater. We look forward to growing our business with the goal of truly transforming the area’s real estate market, making the decision to make the process much more informed and transparent for clients. »

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