Dubai-based fintech startup Stake has managed to raise $14 million in Series A funding led by MEVP (Middle East Venture Partners), a UAE venture capital firm, with participation from Abu Dhabi’s sovereign-backed Mubadala Investment Company, and Wa’ed Ventures, a unit of Saudi Aramco. The other key investors include Al Jomaih Holding, a family conglomerate in Saudi Arabia, and Republic, a US-based private investing platform.
Stake, a digital platform for real estate investments, has announced that the raised amount will be utilized properly for fueling its expansion in UAE and Saudi, making way for investors to tap into the booming industry of real estate in the Kingdom.
“KSA [Kingdom of Saudi Arabia] 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,” said Stake co-founder and co-CEO Manar Mahmassani.
With a 500 UAE Dirham entry point, Stake enables international investors to participate in fractional ownership in real estate. According to the company, more than 50% of its investors are from outside the United Arab Emirates, and it has sold over 200 properties valued at AED 355 million through its app.