- Stake has successfully raised $14 million in a Series A funding round, led by Middle East Venture Partners (MEVP), with participation from Aramco’s Wa’ed Ventures, Mubadala Investment Company, and Republic.
- Founded in 2020 by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido, Stake has attracted over 500,000 global investors, offering easy and transparent investments in income-generating properties.
- Stake aims to become the first platform to enable international investors to participate in Saudi real estate, tapping into the Kingdom’s projected 6% growth by 2025.
- Since 2021, Stake has enabled fractional ownership in Dubai real estate, with over 200 properties worth AED 355 million sold, and more than 50% of investors coming from outside the UAE.
- Stake’s strategic partnership with Republic aims to provide US and UK investors access to UAE and Saudi real estate markets, further accelerating its growth and innovation.
UAE-based proptech company, Stake, has successfully raised $14 million in a Series A funding round.
The round was led by Middle East Venture Partners (MEVP), with participation from Aramco’s Wa’ed Ventures, Mubadala Investment Company, and Republic, a prominent US-based private investing platform.
Foundation and Growth
Founded in 2020 by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido, Stake has swiftly established itself as a leading digital real estate investment platform in Dubai.
The platform offers users the opportunity to invest in income-generating properties with ease and transparency. Stake’s innovative approach has attracted a substantial user base, reaching over 500,000 investors globally within just three years.
Strategic Utilization of Funds
The $14 million raised in the Series A round will be strategically utilized to expand Stake’s investor pool, introduce new investment opportunities, and acquire top talent to enhance its product offerings.
This funding will also facilitate Stake’s entry into the Saudi Arabian market, marking a significant milestone as it becomes the first platform to enable international investors to participate in Saudi real estate opportunities.
The Kingdom’s robust growth forecast, with an expected 6% increase by 2025, presents a lucrative market for Stake’s expansion.
Vision for Real Estate Investment
Rami Tabbara, Co-Founder and Co-CEO of Stake, expressed his gratitude towards the investors supporting this funding round.
He emphasized that the backing from such esteemed investors underscores Stake’s commitment to expanding its product offerings and providing prime investment opportunities to its users.
Tabbara believes that the real estate investment process should be fully digitized to make it accessible, transparent, borderless, and liquid. This funding will significantly bolster Stake’s efforts to achieve this vision.
Expanding into Saudi Arabia
Manar Mahmassani, Co-Founder and Co-CEO, highlighted the strategic importance of entering the Saudi market.
With Saudi Arabia projected to become one of the fastest-growing G20 economies, Mahmassani emphasized the opportunity for both local and international investors to participate early in this growth.
The Series A funding round marks a pivotal moment for Stake as it ventures into this dynamic new market, partnering with influential institutional and sovereign investors in the region to advance its mission of democratizing real estate investment.
MEVP’s Confidence in Stake
Walid Mansour of MEVP expressed excitement about backing Stake in their Series A round.
He praised the company’s remarkable achievements over the past three years and commended their innovative approach to real estate investment.
Mansour is confident that the combination of Stake’s talented team and the strategic funding will propel the company to even greater success in the region.
Redefining Real Estate Investment
Since its launch in 2021, Stake has revolutionized the Dubai real estate market by enabling global investors to engage in fractional ownership with an entry point as low as AED 500.
The platform has facilitated the sale of over 200 properties worth AED 355 million, with more than 50% of investors coming from outside the UAE.
This model has positioned Stake as a leader in transforming the financial and real estate landscape in the MENA region.
Recognition and Strategic Partnerships
In recognition of its rapid growth and innovation, Stake was named a Rising Star by the Deloitte Technology Fast 50 list across the Middle East earlier this year.
Further accelerating its expansion, Stake announced a strategic partnership with Republic, a US-based unicorn investment platform.
This collaboration aims to provide investors in the US and UK with unprecedented access to the booming real estate markets in the UAE and Saudi Arabia.
A Future of Growth and Expansion
The success of Stake’s Series A funding round and its strategic initiatives signal a bright future for the company.
As it continues to scale its presence in the UAE and enters the Saudi market, Stake remains committed to its mission of empowering individuals to build wealth through accessible and transparent real estate investment.
With the support of its esteemed investors and strategic partners, Stake is well-positioned to lead the way in the evolving proptech landscape.
Altogether, Stake’s remarkable journey from its inception in 2020 to securing $14 million in Series A funding reflects its innovative approach and commitment to redefining real estate investment.
The company’s strategic expansion into Saudi Arabia and its focus on digitizing the investment process promise to unlock new opportunities for investors worldwide, solidifying Stake’s position as a trailblazer in the proptech industry.
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Last Updated on June 10, 2024 by Safiya K
