Stake, a digital platform for real estate investment, has announced the successful raising of $14 million in Series A funding. The round was led by Middle East Venture Partners (MEVP) and included participation from Aramco’s Wa’ed Ventures, Mubadala Investment Company, Al Jomaih Holding, and Republic.
Over the past three years, Stake has grown its user base to over 500,000 in the Dubai real estate market. With this new funding, Stake plans to expand into Saudi Arabia, becoming the first platform to allow individuals outside the Kingdom to invest in Saudi real estate. This move targets a market known for its significant growth potential and appeal to regional and international investors.
The capital raised will also be used to grow its investor base, introduce new investment opportunities, and scale its team to enhance its market-leading product.
Co-founder & Co-CEO of Stake, Rami Tabbara, highlighted that the funding will support Stake’s growth in the UAE and its launch in Saudi Arabia. Tabbara stated, “We are fortunate to have such esteemed investors support us. This backing strengthens our dedication to expanding our product offerings and delivering top-tier investment opportunities. We aim to digitize the real estate investment process, making it accessible, transparent, and borderless.”
Manar Mahmassani, Co-founder & Co-CEO, noted the potential in Saudi Arabia, forecasting a 6% growth by 2025, positioning it as one of the fastest-growing G20 economies. “This funding marks a significant milestone as we enter this dynamic market and collaborate with leading institutional and sovereign investors to advance our mission of democratizing real estate ownership,” Mahmassani said.
Walid Mansour of MEVP expressed excitement about supporting Stake in its Series A round, commending the company’s innovative approach to real estate investment. Similarly, Fahad Alidi, Managing Director at Wa’ed Ventures, emphasized the importance of Stake’s expansion into Saudi Arabia, noting the benefits for a diverse range of investors.
Since its inception in 2021, Stake has revolutionized the Dubai real estate market by enabling global investors to engage in fractional ownership starting at AED 500. With over 200 properties valued at AED 355 million sold through its platform and a substantial portion of investors from outside the UAE, Stake is transforming the financial and real estate landscape in the MENA region. In May 2024, Stake surpassed 100,000 transactions on its platform.
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By Proptechbuzz
By Ravi Kumar
