Proptech Platform Stake Raises $31M Series B

- This Series B round brings Stake's total funding to $58 million, following a $14 million Series A in June 2024 and an $8 million pre-Series A round in 2022. Key investors include Emirates NBD, Mubadala Investment Company, and Middle East Venture Partners. - Founded in 2020 by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido, the Dubai-based platform allows for fractional ownership of income-generating properties with a minimum investment of AED 500 (approximately $136). - The company plans to use the capital to expand its presence in Saudi Arabia, where it has already facilitated over SR 416 million (around $111 million) in real estate investments since launching there in late 2024. Stake also recently expanded into the U.S. industrial real estate market. - Stake is part of a booming Middle East proptech market valued at approximately $1 billion and expected to grow, driven by urbanization and smart city initiatives like UAE's Vision 2021 and Saudi Arabia's Vision 2030. - The global real estate tokenization market, a core part of Stake's model, was valued at $2.78 billion in 2023 and is projected to reach $16.51 billion by 2033, growing at a CAGR of 19.50%. This growth is driven by the demand for fractional ownership and increased liquidity. - The platform has amassed over 2 million users and has sold over 200 properties valued at AED 355 million through its app. More than 50% of its investors come from outside the UAE. - In the UAE, Stake is working with Property Finder to advance regulated real estate tokenization and has received In-Principle Approval from Dubai's Virtual Assets Regulatory Authority (VARA). - Competitors in the Middle Eastern proptech and fractional ownership space include Smart Crowd, Aseel Finance, and Huspy.