Nawy Expands into GCC with SmartCrowd Acquisition
Egyptian prop-tech startup Nawy has made a significant move, acquiring Dubai-based SmartCrowd to expand its presence into the Gulf Cooperation Council (GCC) property technology market. This acquisition represents a major achievement for Nawy, a company founded in 2019 that has rapidly ascended to become a leading player in Africa’s burgeoning real estate tech sector.
# Nawy’s Rise and Strategic Expansion
Founded by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El-Beltagy, Nawy began as a user-friendly online platform simplifying property searches with filters for price, size, and location. The company experienced rapid growth, evolving into Africa’s largest real estate technology firm by diversifying its offerings. Nawy’s suite of services includes Nawy Now, providing innovative mortgage financing solutions; Nawy Shares, facilitating fractional property ownership; Nawy Unlocked, for property finishing and asset management; and Nawy Partners, aiding real estate professionals. The SmartCrowd acquisition strategically positions Nawy to leverage its established platform and innovative solutions within the dynamic GCC market.
This acquisition highlights the growing dynamism and maturity of the African tech ecosystem, with companies like Nawy demonstrating the ambition and capability to expand beyond the continent and compete in global markets. The move signals a new phase of growth and influence for African startups in the prop-tech space.
Keywords
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