Stake, a Dubai based digital platform for real estate investment, announced that they have raised $14 million in funding led byMiddle East Venture Partner 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 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.
Funds to Go 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.”
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.
