- Startup: FinTech.
- Founding date: 2021.
- Country: UAE.
- Investors: MEVP, Wa’ed Ventures, Mubadala Investment Company, Al Jomaih Holding, Republic.
UAE-based real estate investment platform, Stake, announced that it has raised $14 million in a Series A funding round led by MEVP, with participation from Aramco’s Wa’ed Ventures, Mubadala Investment Company, Al Jomaih Holding, and Republic.
Stake allows individuals to invest in real estate starting with 500 AED. The startup says it amassed more than 500,000 and sold over 200 properties worth AED 355M via its app. It plans to expand to Saudi Arabia after it obtained approval from the Capital Market Authority’s (CMA) FinTech Lab in 2023.
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 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”.
Co-Founder & Co-CEO of Stake, Manar Mahmassani, 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”
Walid Mansour of MEVP, said: “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. Their approach to real estate 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.”
Fahad Alidi, Managing Director at Wa’ed Ventures, commented: “We are excited to support Stake as it expands into the Saudi market, allowing a broader range of investors to diversify their portfolios with high-potential rental properties. The team, led by Rami, Manar and Ricardo, continues to reshape the real estate market, democratizing access to an asset class traditionally reserved for high-net-worth individuals”.
Stake was launched in 2021 by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido. The startup confirmed that 50% of its investors are from outside the UAE and surpassed 100,000 transactions on the platform in May 2024.