The largest digital platform for real estate investment, Stake, today announced that it has raised $14 million in a Series A funding round led by Middle East Venture Partners (MEVP). Other investors in the round include Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi, Republic, a prominent US-based private investing platform, and Aramco’s Wa’ed Ventures, one of Saudi Arabia’s largest VCs.
Over the previous three years, Stake has faced challenges in the Dubai real estate market, gaining over 500,000 users, and it is now focusing on Saudi Arabia. In order to become the first platform to allow people outside of the Kingdom to invest in Saudi real estate opportunities, Stake plans to use the funds raised to advance the business as they enter the Kingdom this year.
Additionally, the funds will be used to grow its rapidly increasing investor base, add new investment opportunities to the platform, and scale an elite team in order to develop its well-known, industry-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 digitised 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.”
Stake has revolutionized the Dubai real estate market since its launch in 2021, enabling foreign investors to participate in fractional ownership with an entry point as low as AED 500. The company is spearheading a shift in the financial and real estate landscape of MENA, with over 200 properties valued at AED355 million sold through its app and more than 50% of investors originating from outside the UAE. Stake exceeded 100,000 platform transactions in May 2024.
