Fintech company Stake in Dubai secures $14 million in Series A funding, set to expand its platform for fractional real estate investments
In an exciting move for the real estate market, UAE-based fintech startup Stake has successfully raised over $30 million in a Series A round, marking a significant milestone in its journey. The round was led by Middle East Venture Partners (MEVP), with participation from Wa'ed Ventures, Mubadala Investment Company, Al Jomaih Holding, and Republic.
Founded towards the end of 2020 by Rami Tabbara and Manar Mahmassani, Stake is a proptech platform that democratizes property investment in high-growth Gulf markets. The platform allows individual investors worldwide to access income-generating real estate projects, with transactions exceeding $130 million in gross merchandise value in the UAE market alone.
Stake's expansion into the Saudi market will be a first for digital platforms, opening up Saudi real estate opportunities for international users. Manar Mahmassani, the co-founder and co-CEO of Stake, stated that Saudi Arabia is forecast to grow by 6% in 2025, making it one of the fastest growing G20 economies in the world.
The funds raised will be used to support Stake's expansion into Saudi Arabia and fuel its growth in the United Arab Emirates. Walid Mansour, co-founder & co-CEO of MEVP, spoke about Stake, stating that their approach to real estate investment is truly innovative. He believes that Stake's talented team, combined with strategic funding, will propel them to greater success in the region.
Stake enables anyone around the world to invest in income-generating properties in the UAE with as little as $136. The platform has scaled its userbase to over 500,000 users from 160 countries. According to its website, Stake has paid about $4 million in rental income to its users to date.
In addition to providing access to real estate investment, Stake offers various investor benefits such as portfolio diversification through fractional shares, institutional-grade real estate funds, transparency in investment performance, and the ability to qualify for UAE Golden and Retirement Visa programs through property investment.
With its latest funding, Stake is poised to make a significant impact in the real estate market, offering a unique opportunity for global investors to invest in the growing Saudi and UAE markets with low minimums. As Manar Mahmassani mentioned, this raise marks a significant moment in Stake's journey, as they expand into the Saudi market.
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