Stake raises $8M Pre-Series A
Dubai-based digital real estate investment platform, Stake, has secured $8M in a pre-series A funding round.
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Real estate FinTech platform Stake has raised $8M in a Pre-Series A round backed by MEVP and BY Ventures, with participation from returning investors Vivium Holding and Combined Growth Real Estate. Co-founders Rami Tabbara, Manar Mahmassani, and Ricardo Brizido launched Stake in December 2020, to provide a simple, affordable, and transparent way to own a piece of income-generating properties in Dubai. Stake launched its mobile application for fractional real estate investing in March 2022.
The UAE VC ecosystem remains the most funded geography in MENA raising 47% of FY 2021 funding, as recorded in our UAE H1 2022 Venture Investment Report. Boosted investor activity in UAE was driven by a rapid market adoption of digital solutions where FinTech, E-commerce, and T&L attracted more participation from investors in MENA. However, the Real Estate space has been emerging with technologies in multi-integrated platforms that are disrupting the traditional Real Estate dealing in the region. Over the past few months, solutions like Online Property Platform Nawy, Dubai-based property portal houza, as well as property management platform Darent raised sizable investments to raise over $10M collectively. The most notable round this year has been Huspy’s $37M Series A round. Real Estate in UAE is the fourth most funded industry if we look at data from the past seven years.
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The company expects to continue fueling growth in the platform as regional investors flock to real estate for stability in today’s volatile global markets. Rami Tabbara, Manar Mahmassani, and Ricardo Brizido, Co-Founders of Stake commented: “Investors in the region and beyond deserve a more transparent, digital-friendly means of investing in real estate. This round is a testament to our mission at Stake to bring access and liquidity to the oldest, largest, and most sought-after asset class in the world. The proceeds will allow us to continue attracting the best talent to the team and cement Stake’s position as the category leader in the MENA region.”
The region’s real estate surge has motivated Stake to enter two more markets by Q1 2023: Saudi Arabia and Egypt. The startup aims to direct the Kingdom’s proactive investors and encourage young Egyptians to tap into the rapidly growing asset class created in their domestic markets. Riyad Abou Jaoudeh, Partner at MEVP says, "We believe that the future of property investment is digital, fractional, and hassle-free. The team at Stake has enabled thousands to become real estate investors and we are excited to partner with them as they scale in MENA.
Despite global tensions and rising inflation concerns in the region, UAE’s real estate market continues to thrive. As such, the real estate industry emerges as one of the top five sub-sectors by deal value in the Middle East, ranked alongside consumer products, banking, and capital markets, asset management, and transportation. Abdallah Yafi, Founder and Managing Partner at BY Ventures added, “We are delighted to welcome Stake to the BY portfolio and to be partnering with such an incredible team led by Rami, Manar, and Ricardo in their mission-driven journey to build the go-to platform for fractional real estate investing in MENA. We’re proud of their early success in the UAE and excited about the potential in the wider MENA region. We strongly believe in the execution capabilities of the Stake team and their ability to build a dominant business while focusing on delivering profitable growth.”
Stake plans to invest this new capital in advancing its product and technology, upscaling its brand, and expanding operations within the region with the vision of enabling a borderless, liquid, and accessible market for quality real estate investments. Elie Khouri, Founder of Vivium Holding, concluded, "We believe that property investment stands at the core of any wealth-building strategy and we continue to stand behind Stake as they are democratizing real estate ownership across the region.”
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