Ahmed Rafea (Nawy)
Overview
Ahmed Rafea is a key figure in the realm of real estate technology in Africa. As one of the co-founders of Nawy, a proptech company in Egypt, Rafea has played an instrumental role in transforming the landscape of property transactions by modernizing how people buy, sell, and invest in real estate. Under his leadership, Nawy has become Africa's largest real estate technology platform, offering a full-stack ecosystem that includes mortgage financing, fractional ownership, asset management, and brokerage services. Their recent achievements in securing significant funding have positioned the company for expansive growth across the MENA (Middle East and North Africa) region.
Recent Developments
- 2025: Nawy raised a $52 million Series A funding from investors like Partech, with an additional $23 million in debt financing from major Egyptian banks. The funds are supporting its expansion throughout the MENA region and enhancing its technology stack, focusing on AI-driven solutions.
- 2025: Nawy has expanded into the Gulf market through the acquisition of a majority stake in Dubai-based SmartCrowd, a platform that enables fractional property investment.
- 2024: Nawy reported a Gross Merchandise Value (GMV) of over $1.4 billion. It has achieved 50x revenue growth over four years despite economic challenges such as the Egyptian pound's devaluation.
- 2024: The company launched new products including Nawy Shares, Egypt’s first off-plan fractional ownership platform, and Nawy Unlocked, a service for monetizing and managing properties.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Ahmed Rafea |
| Nationality | Egyptian |
| Occupation | Co-Founder, Chief Business Development Officer at Nawy |
| Known For | Co-founding Nawy |
| Education | Not widely documented |
Early Life and Education
Ahmed Rafea's early life and educational background remain less publicized. Having co-founded Nawy alongside his counterparts in 2019, his efforts primarily focus on innovating the real estate market in Egypt. It was through these beginnings that he engaged deeply with technology solutions, eventually cementing his role as Chief Business Development Officer at Nawy.
Career and Notable Achievements
- 2019: Co-founded Nawy, aiming to digitize real estate transactions in Egypt.
- 2019 - 2024: Under his stewardship, Nawy developed into the largest proptech platform in Africa, expanding its services to mortgage financing (Nawy Now), fractional ownership (Nawy Shares), and property management (Nawy Unlocked).
- He helped orchestrate Nawy's substantial funding rounds, such as the $52 million Series A and $23 million in debt financing.
- Nawy’s growth trajectory under his leadership has set new benchmarks in the MENA real estate market, including doubling its GMV within a few years.
Current Work and Impact
Currently, Ahmed Rafea continues to serve as a prominent leader within Nawy. His work centers on leveraging technology to enhance efficiency and transparency in real estate transactions, significantly impacting how properties are bought and sold in Egypt and beyond. His foresight in integrating AI into Nawy's platform is expected to keep the company at the forefront of the proptech industry in the region. Nawy's plans for regional expansion are set to redefine real estate experiences across MENA, with particular attention to markets like Saudi Arabia, Morocco, and UAE.
Nawy Hotline
Nawy’s customer service infrastructure, including the Nawy Hotline, is an integral part of its operations, providing personalized assistance to users navigating their real estate options.
Nawy App
The Nawy app is designed to facilitate real estate transactions, offering features for browsing properties, managing investments, and applying for mortgages. It underpins Nawy’s vision of creating an accessible and streamlined property market, enhancing user interactivity and satisfaction.
Conclusion
Ahmed Rafea’s journey with Nawy underscores a significant evolution in the real estate sector across Egypt and potentially MENA. Through strategic financing and innovations, he has positioned Nawy as a pioneering force capable of redefining real estate solutions. As Nawy scales its operations into new regions and enhances its technology stack, Rafea's influence will likely extend across the industry's future development, embodying the potential for African tech companies in global markets.