Egyptian proptech startup Nawy has secured $52m in Series A funding, marking one of the largest single rounds in the country’s real estate technology sector to date.
The deal reflects Amazon’s execution of a right first agreed in May 2022, when the U.S. tech giant secured an option to buy $10 million worth of global depositary receipts convertible into equity in ValU — contingent on a qualified offering event, such as today’s listing.
Despite the proliferation of fintech, e-commerce, and logistics platforms across Africa, a lack of formal addresses remains a blind spot in infrastructure.
The deal reflects Amazon’s execution of a right first agreed in May 2022, when the U.S. tech giant secured an option to buy $10 million worth of global depositary receipts convertible into equity in ValU — contingent on a qualified offering event, such as today’s listing.
