Real estate fintech platform Stake secures $14M in Series A funding

UAE’s proptech Stake closes $14 million Series A

Dubai, United Arab Emirates, June 10th, 2024Stake, the leading digital platform for real estate investment, today announced that they have raised $14 million in funding led by MEVP (Middle East Venture Partners), along with Aramco's Wa'ed Ventures, one of Saudi Arabia’s largest VC’s, Mubadala Investment Company, Abu Dhabi’s Sovereign Investor, Al Jomaih Holding, one of Saudi Arabia’s largest family conglomerates, and Republic, a leading US-based private investing platform. 

Stake has been making headwinds in the Dubai real estate space over the past 3 years, amassing over 500,000 users, with its eyes now set on Saudi Arabia. Stake will be utilizing the funds raised to propel the business as they enter 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 Kingdom is a key market for both regional and international investors and presents vast growth opportunities for real estate fintech companies such as Stake. 

The funds will also be allocated to expanding its fast-growing investor pool, bringing new investment opportunities on the platform and scaling a world-class team to build out its globally renowned, market leading product. 

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 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 of Stake, Manar, said: “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, said: "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, 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.”

Since its launch in 2021, Stake has redefined the Dubai real estate market, allowing global investors to engage in fractional ownership with an entry point as low as AED 500. With over 200 properties worth AED 355M sold via its app and over 50% of their investors coming from outside of the UAE, the company is leading a wave of transformation within MENA’s financial and real estate landscape. In May 2024, Stake surpassed 100,000 transactions on the platform.

Earlier this year, Stake was recognized as a Rising Star by the Deloitte Technology Fast 50 list across the Middle East. Further fuelling its growth and expansion, Stake also recently announced a strategic partnership with Republic, a US-based unicorn investment platform to offer investors in the US and UK unprecedented access to the booming real estate market in the UAE and Saudi Arabia. Stake is regulated by the Capital Markets Authority in Saudi Arabia. 

About Stake:

Stake is a digital real estate investment platform that enables anyone the ability to access unique, exclusive or premium investment opportunities from anywhere in the world. Launched in 2021, Stake has built an international base of over 500,000 users from 205 nationalities and 160 countries. While property investing typically involves large amounts of upfront capital and an antiquated buying process , investors globally can access real estate from only AED 500 (US$136). Co-founders Rami Tabbara, a veteran of the real estate industry, Manar Mahmassani, an experienced investment banker, and Ricardo Brizido, a seasoned CTO, combined their 50+ years’ of expertise to democratize and digitize property investment in, to and from the MENA region. To be a part of our team at one of the fastest growing startups in MENA, explore our job openings here.