Stake, a Dubai-Based Digital Real Estate Platform, Raises $8M Pre-Series A to Expand into Egypt and KSA

Stake, a Dubai-based digital real estate fintech platform, has raised $8 million in an oversubscribed pre-series A round. MEVP, and BY Ventures led the investment round with participation from Vivium Holding, and Combined Growth Real Estate.

The startup has now raised a total of $12 million since its launch in January 2021, having previously raised $4 million in a seed round in June 2021 as it plans to launch in Egypt and Saudi Arabia in the first quarter of 2023.

Stake will use the funds to advance its product and technology, scale its brand, and expand operations in the region, to create a borderless, liquid, and accessible market for quality real estate investments.

According to the startup, its goal is to direct the Kingdom’s proactive investors and encourage young Egyptians to participate in the rapidly growing asset class created in their home markets.

Rami Tabbara, Manar Mahmassani, and Ricardo Brizido, co-founders of Stake, said in a joint statement that the investment supported their mission of providing liquidity to the world’s oldest, largest, and most sought-after asset class.

“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 startup, which has 42,000 users in 80 countries, claims to have experienced an average 17 percent monthly growth rate in both investors and assets under management, as well as a 500 percent overall growth in AUMs in the last 12 months.

Stake, also claimed that its $8 million pre-series A round is the largest capital ever raised by a real estate investment platform in the MENA region.