- The funding round led by MEVP, with participation from Aramco’s Wa’ed Ventures, Mubadala and Al Jomaih Holding.
Dubai-based digital platform for real estate investment – Stake – has raised $14 million in funding to spread wings into Saudi Arabia and expand its team this year.
The funding was 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.
“The new funding will enable Stake to continue scaling its presence in the UAE, while launching in Saudi Arabia, 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,” Rami Tabbara, Co-Founder & Co-CEO of Stake, said.
Stake has been making headwinds in the Dubai real estate space over the past three years, amassing over 500,000 users.
Stake is set to become 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.
“Saudi Arabia 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,” Manar, Co-Founder & Co-CEO of Stake, said.
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 355 million sold via its app and over 50 per cent of their coming investors 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.
“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. The 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,” Walid Mansour, Co-founder & Co-CEO of MEVP, said.