Dubai-Based Real Estate Fintech Platform Stake Bags $14millon in Series A Funding
Stake, a UAE-based digital platform for real estate investment, has secured $14million in funding to help expand into Saudi Arabia.
Since its launch in 2021, Stake has enabled investors to engage in fractional ownership with an entry point of AED500 and now boasts more than 500,000 users. With more than 200 properties worth AED355million sold via its app and over 50 per cent of its investors coming from outside of the UAE, the company has now unveiled its expansion plans.
Its funding round was led by MEVP (Middle East Venture Partners), along with Aramco’s Wa’ed Ventures, Mubadala Investment Company, Abu Dhabi’s Sovereign Investor, Al Jomaih Holding and Republic, a US-based private investing platform.
It will utilise the funds raised to propel the business as it enters the Kingdom this year, becoming the first platform to offer individuals outside of the Kingdom the opportunity to invest into Saudi real estate opportunities.
The company will also allocate the funds to expand its fast-growing investor pool, bring new investment opportunities to the platform, and scale a world-class team to build out its globally renowned, market-leading product.
Investment opportunities
Rami Tabbara, co-founder and co-CEO of Stake, commented: “We are grateful to have a top-tier group of investors backing this funding round and placing significant trust in Stake and the future we are building. Having them onboard fortifies our commitment to expanding our product offerings and providing our investors with prime investment opportunities.
“We believe that the real estate investment process needs to be fully digitised and we have only started scratching the surface in our vision of making real estate accessible, transparent, borderless and liquid.
Co-founder and co-CEO of Stake, Manar Mahmassani, also added: “KSA is forecast to grow by six per cent in 2025 making it one of the fastest growing G20 economies in the world. We want to give both our local and international users the opportunity to invest early and participate in that growth.
“This raise marks a significant moment in our journey, as we expand into this dynamic new market and partner with amazing new shareholders, including some of the strongest institutional and sovereign investors in the region, to advance our mission of empowering everyone to own and build wealth through real estate.”
Backing Stake
Walid Mansour, co-founder and co-CEO of MEVP, commented on backing Stake in its Series A round: “What they have achieved in the past three years is nothing short of incredible. Their approach to real estate investment is truly innovative and we believe that their talented team, combined with our strategic funding, will propel them to greater success in the region.”
Meanwhile, Fahad Alidi, MD at Wa’ed Ventures, said: “We are excited to support Stake as it expands into the Saudi market, allowing a broader range of investors to diversify their portfolios with high-potential rental properties. The team, led by Rami, Manar and Ricardo, continues to reshape the real estate market, democratizing access to an asset class traditionally reserved for high-net-worth individuals.”
In May 2024, Stake surpassed 100,000 transactions on the platform.
