Egypt: Real estate platform raises $5m seed funding
The Egypt-based proptech and real estate booking platform Nawy has successfully raised $5 million in a seed funding round led by the Sawiris family office.
Nawy is an online real estate platform that facilitates purchasing and selling property. The proptech start-up makes the process simple, hassle-free, and transparent for everyone involved, providing its clients with a first-class experience. With a massive database of properties, customers can search and filter their options using various criteria, such as unit space, price and location. Additionally, Nawy employs machine learning and artificial intelligence algorithms to develop personalised recommendations for its clients, in addition to offering homes that are more appropriate for their specific requirements and preferences.
This centralised, fully-integrated model renders a handoff between an online platform and brokerage obsolete, ushering in a more efficient, user-friendly approach. Once customers are ready to make a purchase, Nawy’s brokerage arm provides a seamless transaction process using the expertise of veteran agents and consultants, at no additional cost. Nawy’s tech does not stop at the customer-facing component of the business. It deploys its own CRM with a smart allocation of leads, as well as assists its agents with the ability to access market information. Furthermore, it also gives agents insights on their performance as well as suggests areas of improvement with recommendations through artificial intelligence and machine learning.
The Sawiris family office lead Onsi Naguib Sawiris said, “We were one of the initial investors in Nawy because we saw the company’s potential and shared its ambition. We immediately increased our investment when we realised how quickly they were expanding and saw the company’s trajectory coming to life. We are very excited about what the future holds especially as Nawy expands its services and furthers its momentum in the real estate market.”
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