UAE – Mubasher: Stake, a Dubai-based digital real estate investment platform, has raised more than $8 million in an oversubscribed pre-series A funding round, according to a press release.
The investment follows a $4 million seed round that was closed in June 2021, bringing the platform’s total raised funds to over $12 million.
Driven by leading venture capital investors, MEVP and BY Ventures, and participation from returning investors Vivium Holding and Combined Growth Real Estate, the funding is the largest capital raised by a real estate investment platform across the region.
Having 42,000 users from more than 80 countries and 150 nationalities, Stake will use the new capital to develop its product and technology. The digital platform further aims to enhance its brand and expand its operations across the region.
Meanwhile, Stake plans to launch its services in Saudi Arabia and Egypt by the first quarter (Q1) of 2023, given the region’s real estate surge.
Co-Founders of Stake, Rami Tabbara, Manar Mahmassani, and Ricardo Brizido, said: “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.”
