Mubasher TV
Contact Us Advertising   العربية

Stake raises $14m Series A funding co-led by Aramco-run Wa’ed Ventures

Stake raises $14m Series A funding co-led by Aramco-run Wa’ed Ventures
Photo Gallery
-1.68% 29.30 -0.50

UAE – Mubasher: UAE-based proptech Stake closed a $14 million Series A funding round, led by MEVP Middle East Venture Partners (MEVP), along with Aramco-backed  Wa'ed Ventures, Mubadala, and Republic.

The funds will support the platform’s objectives to expand its presence in the UAE and launch business in Saudi Arabia, according to a press release.

The Saudi Capital Markets Authority (CMA) approved Stake’s growth plans into the Kingdom in 2023.

Stake has registered more than 500,000 users in the Dubai real estate space over the past three years.

The Co-Founder and Co-CEO of Stake, Rami Tabbara, commented: "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."

Manar Mahmassani, Co-Founder and Co-CEO of Stake, highlighted: “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,” Mahmassani added.

Launched in 2021, Stake reshaped the Dubai real estate market, allowing global investors to engage in fractional ownership with an entry point as low as AED 500.

It app sold more than 200 properties worth AED 355 million, which enabled the company to drive transformation within MENA’s financial and real estate landscape.