EGYPT – Egyptian prop-tech startup Nawy has raised a US$5 million seed funding round to provide more services, capitalize on digital technologies, and expand the business regionally.
The latest funding was led by the Sawiris family, an Egyptian family that owns the Orascom conglomerate, spanning telecommunications, construction, tourism, industries, and technology.
Nawy was founded in 2016 to allow users to browse houses online using customizable criteria such as unit space, price, and location.
This emerging platform simplifies the process of buying and selling real estate online.
Currently, the startup employs more than 200 employees, who contribute to making the company helped over 60,000 people in identifying the ideal locations for their homes.
“We will always strive to bring about a real transformation in the real estate market in the region and make the purchase decision-making process easier and clearer for customers,” Mostafa El-Beltagy, CEO Nawy.
“We realized the speed with which the company was expanding and growing, and we immediately boosted our investments in it,” said Onsi Sawiris, the Director of the Family Office.
Nawy is hassle-free and clear for everyone involved, whether buyers or developers, providing an unparalleled buying experience to all users.
The startup contains a huge database of real estate properties, allowing all customers to search among thousands of options, then filter them according to several criteria.
These features make the decision to purchase any unit entirely in the hands of users, unlike the traditional buying methods that involve many parties and affect the customer’s decision.
The company is also always developing its search engines and artificial intelligence, allowing the marketing process to match customer needs and providing them with homes that suit the requirements and preferences of each user individually.
This integrated experience also ensures that the entire process is conducted online, which eliminates brokers.
Additionally, the AI process helps agents provide their CRM with technologies to get to know potential customers and also helps them access all information about them.
The AI process also provides them with all the data needed about their performance at work and recommendations on how this performance can be improved.
The company witnessed unprecedented growth, as the annual growth rate reached 5.4% by the end of 2021, which is double the figure achieved by the end of 2020.
The total value of the company’s sales reached more than US$200 million after it helped thousands of families buy their dream homes.
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