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The fractional investment property platform will also extend operations in Dubai, Abu Dhabi
June 14, 2024 | Staff Reporter | UAE | PropTech
Stake, the leading digital platform for real estate investment, has successfully raised $14million 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.
Founded by Manar Mahmassani, Rami Tabbara and Ricardo Brizido in 2020, Stake aims to use the new cash to fuel its international plans — the majority of the money will be used to enter Saudi Arabia in the next few months and to expand to Abu Dhabi next year. Some of the money will also be used to offer more options in Dubai, like investing in commercial real estate. The startup has raised a total of $26 million to date.
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 and 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.”
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.
Manar Mahmassani, Co-Founder and Co-CEO, Stake
Co-Founder and 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.”
Since its inception in 2021, Stake has sold over 200 properties worth AED 355m and surpassed 100,000 transactions in May 2024. Currently, the platform has more than 200 properties under management with investors from across the globe. The UAE is home to most of its customers, and people from Saudi Arabia and Kuwait form the bulk of its international customer base. About 12% of its customers are from the US, Canada and the UK.
