Stake, a Dubai-based fintech and real estate investment platform which launched in December 2020 to disrupt the UAE’s real estate investment market, today announces that it has raised US$4 million in a seed funding round led by Combined Growth Real Estate, a company that is led by Amer Hammour, who is the Founder and Chairman of Madison Marquette, a US-based real estate investment management company with $6 billion of assets under management and a member of the Capital Guidance group. It also attracted participation from Vivium Capital, a Dubai based private family office in addition to Verve Ventures, Lama Holding from Riyadh, Mishaal Alireza a Saudi Arabian angel investor, and shareholders of the UK’s Chalgrove Properties Limited, who are the developers of the tallest residential tower in Western Europe, Landmark Pinnacle in London.
Stake will use the funds to scale and enhance the platform by introducing exciting new products and features, invest in sales and marketing, and to grow the current team of 15 to execute on the firm’s ambitious goals in technology innovation, property sourcing, product development and operational excellence.
Commenting on the successful funding round, co-founder Rami Tabbara said: “Our shareholders believe that in today’s world there is a much better way of investing in real estate. Through Stake, we will enable anyone to participate in this asset class in an easy, transparent, and digital way. This fundraise allows us to build the go to digital real estate investment platform for Dubai property and eventually the region. We are focused on bringing the best property investment deals to our clients.”
Manar Mahmassani, co-founder of Stake, added: “When we launched Stake, we made clear our goal to democratise real estate investment and remedy to ills of Dubai’s property market, which prevented the young from participating and delivered unattractive returns for experienced investors. Our shareholders believe in our vision for a world where real estate is a completely liquid and fully accessible investment asset class, available to everyone looking to preserve and grow their wealth. With this fund raise, we can accelerate our journey to radically improve the real estate investment market and bring this tangible asset into the new digital age.”