Dubai-based property technology (PropTech) company Stake has secured $14 million in a Series A funding round. The investment, led by Middle East Venture Partners (MEVP), a prominent UAE venture capital firm, signifies growing confidence in the future of fractional real estate ownership facilitated by digital platforms.
Stake's funding round attracted a diverse group of investors. Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi, participated alongside Wa'ed Ventures, the venture capital arm of Saudi Aramco, the world's largest oil producer. Notably, the round also included investment from Al Jomaih Holding, a prominent Saudi Arabian family conglomerate, and Republic, a leading US-based private investing platform.
Founded in 2021, Stake has emerged as a key player in democratizing access to Dubai's lucrative real estate market. The company's user-friendly digital platform allows investors to participate in fractional ownership of properties, with a minimum entry point as low as 500 Emirati Dirhams (AED). This innovative approach has attracted a global audience, with over half of Stake's investors residing outside the UAE. Since its launch, the company has facilitated over 200 property transactions worth a staggering AED 355 million.
The recent funding influx signifies a significant milestone for Stake. The company plans to leverage the capital to fuel its expansion across the United Arab Emirates (UAE) and Saudi Arabia. This strategic move will enable Stake to capitalize on the burgeoning real estate market in Saudi Arabia, while simultaneously expanding its investor base and diversifying its property portfolio.
Stake's success story reflects a broader trend within the MENA (Middle East and North Africa) region. Fintech startups are rapidly transforming the financial landscape by leveraging technology to make financial products and services more accessible and inclusive. Stake's innovative approach to real estate investment aligns perfectly with this trend, and the company's recent funding windfall positions it for continued growth and industry leadership.