Cairo-based Nawy closes seven-figure Seed Round
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Nawy, the Cairo-based Proptech startup, has raised an undisclosed seven-figure Seed round led by the Sawiris family office with the participation of key angel investors including Hatem Dowidar, major telecom leader and angel investor.
Founded in 2016, Nawy, previously known as “Cooing”, offers a holistic real estate end-to-end platform that enables users to browse thousands of properties and guides them in finding their perfect match. Through a seamless tech-driven platform, Nawy users can choose filters, browse properties, and save listings, which makes their property finding process easier and much more efficient.
Based on MAGNiTT’s Egypt H1 2021 Venture Investment Report, funding in Real Estate witnessed a 900% increase in H1’21 YoY, and Nawy’s recent investment round surely amplifies this growth. The ingenious platform facilitates users’ journeys, allowing them to run elaborate searches with customizable filters such as unit space, price, location, and more. Users can also cast a wider net and filter down from there. This feature provides users with full autonomy over their real estate decisions, as opposed to more traditional methods that involve multiple parties and less-informed decisions. Nawy’s user-friendly interface and integrated approach arise from a market need, as CEO, Mostafa El Beltagy, highlights “There’s a considerable chunk of time lost from a homebuyer’s end due to lack of information and transparency, which breeds anxiety within customers. Even more traditional methods, such as push sales from cold calling, are leaving customers more skeptical than ever. Nawy is vying to become the leading real estate search engine and platform equipping customers with all the information and insight they need to select a home in Egypt’s top gated communities.”
To date, Nawy has assisted 30,000 users in finding their property through their integrated model which includes hands-on client service/sales teams, in-house technology, and seasoned experts in Real Estate. The startup’s integrated approach and skilled talent have reaped promising results as Sawiris Family office lead Onsi Sawiris explains “Within the realms of Proptech, there’s a breakneck speed of evolution in service offerings, and how to better offer a fully-integrated model that can be executed in Egypt. Nawy has paved the way for it to be manifested and realized, and I am in full belief of their vision’s viability. Nawy has checked all the quintessential boxes from acquiring the right team and talent to ensuring their backend is a truly inventive one that is able to deliver a seamless and transparent homebuyer’s journey.”
The Proptech startup and search engine plans to utilize these newly acquired funds to bolster its technology, diversify its services, and expand its team to serve more areas across Egypt.
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