Egyptian proptech Nawy closes $5m seed fund – ArabianBusiness.com

Egyptian proptech Nawy closes $5m seed fund – ArabianBusiness.com

Nawy, an Egyptian proptech start-up, concluded its seed funding round securing $5m that it will use to fuel expansion in the Middle East.

Employing 200 people, Nawy is an online real estate platform that facilitates purchasing and selling property that has sold over $200m worth of properties.

“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,” Nawy CEO Mostafa El Beltagy said.