Stake, the leading digital platform for real estate investment, has successfully raised $14m in a recent funding round.
The investment was led by Middle East Venture Partners (MEVP), with participation from Aramco’s Wa’ed Ventures, Mubadala Investment Company, Al Jomaih Holding, and the US-based private investing platform Republic.
Stake has made significant strides in the Dubai real estate market over the past three years, amassing over 500,000 users. The platform aims to utilize the new funding to expand into Saudi Arabia, becoming the first platform to offer individuals outside the Kingdom the opportunity to invest in Saudi real estate opportunities. The Saudi market presents vast growth opportunities for Stake, given its significance for both regional and international investors.
The funds will also be allocated towards expanding Stake’s investor pool, introducing new investment opportunities on the platform, and scaling a world-class team to enhance its market-leading product. The company’s innovative approach allows global investors to engage in fractional ownership, with an entry point as low as AED 500, redefining real estate investment in the region.
Rami Tabbara, Co-Founder & Co-CEO of Stake, highlighted the impact of the new funding, stating, “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 digitized and we have only started scratching the surface in our vision of making real estate accessible, transparent, borderless, and liquid.”
Co-Founder & Co-CEO Manar emphasized the strategic importance of the Saudi market, saying, “KSA is forecast to grow by 6% 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.”
Walid Mansour, Co-founder & Co-CEO of MEVP, expressed his enthusiasm for Stake’s progress, stating, “We’re thrilled to be backing Stake in their Series A round. What they have achieved in the past 3 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.”
Fahad Alidi, Managing Director at Wa’ed Ventures, commented on Stake’s expansion plans, noting, “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, democratising access to an asset class traditionally reserved for high-net-worth individuals.”
Since its inception in 2021, Stake has transformed the Dubai real estate market, enabling global investors to participate in fractional ownership of properties. The platform has sold over 200 properties worth AED 355m and surpassed 100,000 transactions in May 2024. Earlier this year, Stake was recognised as a Rising Star by the Deloitte Technology Fast 50 list across the Middle East and announced a strategic partnership with Republic to offer US and UK investors access to the real estate markets in the UAE and Saudi Arabia.
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
