UAE’s Proptech Stake Raises $14 Million in Series A Round
Stake was founded by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido in 2020.
UAE-based proptech startup, Stake has closed its series A round with $14 million contributed by Middle East Venture Partners and joined by Aramco’s Wa’ed Ventures, Mubadala Investment Company, as well as Republic, a US-based private investing platform.
Stake was founded by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido in 2020. It provides fractional ownership to international investors, starting at 500 AED ($136.13).
Additionally, within the last three years, it claims that the platform has had over half a million users and sold over 200 properties worth AED 355 million ($96.65 million) through the app.
With the fresh funding in place, Stake will be able to move into Saudi Arabia as the first platform to allow non-Saudi investors to participate in the Kingdom's real estate market.
Also, the raised capital will help Stake launch new investment products.
In May 2024, Stake witnessed more than 100,000 transactions on its platform. The company was also recognized as a Rising Star by Deloitte’s Technology Fast 50 list across the Middle East earlier this year.
In 2022, Stake concluded its pre-series A round backed by MEVP, BY Ventures, Vivium Holding, and Combined Growth Real Estate.