The largest digital platform for real estate investment, Stake, announced that it has raised $14 million in a Series A funding round led by Middle East Venture Partners. Other investors in the round include Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi, Republic, a prominent US-based private investing platform, and Aramco’s Wa’ed Ventures, one of Saudi Arabia’s largest VCs.
Over the previous three years, it has faced challenges in the Dubai real estate market, gaining over 500,000 members, and it is now focusing on Saudi Arabia. In order to become the first platform to allow people outside of the Kingdom to engage in Saudi real estate prospects, it plans to use the funds raised to advance the business as they enter the Kingdom this year.
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The Kingdom offers enormous growth potential for real estate fintech businesses like Stake and is a crucial market for both domestic and foreign investors.
The money will also go towards building out its rapidly growing investor base, introducing fresh investment possibilities on the platform, and growing a top-notch team in order to develop its well-known, industry-leading offering.
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Co-Founder & Co-CEO of Stake, Rami Tabbara, noted how the new funding will enable Stake to continue scaling its presence in the UAE, while launching in Saudi Arabia “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.”
Stake has revolutionised the Dubai real estate industry by offering fractional ownership for as little as AED 500 since 2021. The company is driving MENA’s financial and real estate change with over 200 homes worth AED355 million sold via its app and over 50% of investors from outside the UAE. The Stake platform reached 100,000 transactions in May 2024.
Earlier this year, Deloitte Technology Fast 50 Middle East named Stake a Rising Star. Stake has partnered with Republic, a US startup investing platform, to give US and UK investors unparalleled access to the UAE and Saudi Arabia real estate markets, boosting its growth.
About Stake
Stake is a digital real estate investment platform that makes investing in Dubai rental properties easy and transparent from anywhere in the world.
