Fintech
Dubai-based Fintech real estate platform invests $14 million in Series A funding
Polea UAE-based digital platform for real estate investment, has secured $14 million in funding to help expand into Saudi Arabia.
Since its launch in 2021, Stake has enabled investors to engage fractional ownership with an entry point of 500 AED and now boasts more than 500,000 users. With over 200 properties worth AED355 million sold through its app and over 50% of its investors coming from outside the UAE, the company has now unveiled its expansion plans.
Its funding round was led by MEVP (Middle East Risk Partner), with Aramco’s Wa’ed Ventures, Mubadala Investment Company, Abu Dhabi’s sovereign investor Al Jomaih Holding and Republic, a US-based private investment platform.
It will use the funds raised to promote the business when it enters the Kingdom this year, becoming the first platform to offer individuals outside the Kingdom the opportunity to invest in Saudi real estate opportunities.
The company will also allocate funds to expand its rapidly growing investor pool, bring new investment opportunities to the platform and build a world-class team to build its globally renowned, market-leading product.
Investment opportunities
Rami Tabbara, co-founder and co-CEO of Stake, commented: “We are grateful to have a group of high-level investors supporting this funding round and placing significant faith in Stake and the future we are building. Having them on board strengthens our commitment to expanding our product offerings and providing our investors with world-class investment opportunities.
“We believe the real estate investment process needs to be fully digitalized and we have only begun to scratch the surface of our vision of making real estate accessible, transparent, borderless and liquid.
Co-founder and co-CEO of Stake, Manar Mahmassani, further added: “Saudi Arabia is expected to grow by 6% in 2025, making it one of the fastest growing G20 economies in the world. We want to give both our local and international users the opportunity to invest early and participate in that growth.
“This raise marks a significant moment in our journey as we expand into this dynamic new market and partner with extraordinary new shareholders, including some of the region’s strongest institutional and sovereign investors, to advance our mission of giving everyone the possibility of owning and building wealth through the real estate sector”.
Support bet
Walid Mansur, co-founder and co-CEO of MEVP, commented on the support for Stake in its Series A round: “What they have achieved over the last three years is nothing short of incredible. Their approach to real estate investing is truly innovative and we believe their talented team, combined with our strategic financing, will propel them to greater success in the region.”
In the meantime, Fahad Alidi, MD of Wa’ed Ventures, said: “We are excited to support Stake as it expands into the Saudi market, enabling a broader range of investors to diversify their portfolios with high-potential rental properties. The team, led by Rami, Manar and Ricardo, continues to reshape the real estate market, democratizing access to an asset class traditionally reserved for high-net-worth individuals.”
In May 2024, Stake surpassed 100,000 transactions on the platform.