The three co-founders of the startup Stake, Rami Tabbara (left), Ricardo Brizido (center), and Manar Mahmassani (right). (Credit: Stake)
BEIRUT — Stake, a platform co-founded by two Lebanese entrepreneurs, raised $14 million in investments in a Series A round, with backing from regional funds MEVP, Wa'ed Ventures, Mubadala Investment Company and Republic.
Series A funding comes after a company receives its initial seed funding and begins to build its product. Stake had initially received $12 million raised in previous rounds ($4 million in June 2021 and over $8 million in August 2022), bringing today’s total to $26 million.
Founded by Rami Tabbara and Manar Mahmassani, alongside Portuguese co-founder Ricardo Brizido, Stake allows global investors to buy shares in selected real estate properties, simplifying investment in location-based, rental-yielding assets. Investors receive monthly payouts proportional to their investment and profits from property sales are distributed accordingly.
Stake allows people to make investments under $140, in line with its aims to democratize real estate investment. Its user base has grown from 42,000 in August 2022 to over 500,000 today, driven by its user-friendly interface and streamlined process, as highlighted by Rami Tabbara.
Since its 2021 launch, Stake, based in Dubai, has sold over 200 properties worth $96.6 million, with over 50 percent of investors from outside the UAE.
Stake plans to use this new investment to enter the Saudi Arabian market, aiming to be the first platform offering global investors access to real estate opportunities in the kingdom.
This article was originally published in French in L'Orient-Le Jour.