{"id":87060,"date":"2024-06-11T00:00:00","date_gmt":"2024-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/11\/aramcos-waed-ventures-invests-in-uae-proptech-stake-supporting-entry-into-saudi\/"},"modified":"2024-06-11T00:00:00","modified_gmt":"2024-06-11T00:00:00","slug":"aramcos-waed-ventures-invests-in-uae-proptech-stake-supporting-entry-into-saudi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/11\/aramcos-waed-ventures-invests-in-uae-proptech-stake-supporting-entry-into-saudi\/","title":{"rendered":"Aramco\u2019s Wa\u2019ed Ventures invests in UAE proptech Stake, supporting entry into Saudi"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco\u2019s Wa'ed Ventures invests<\/strong><strong> in UAE\u2019s fintech startup Stake: <\/strong>Dubai-based proptech startup <a target=\"_blank\" href=\"https:\/\/getstake.com\/\" style=\"\" rel=\"noopener\">Stake<\/a> raised USD 14 mn in series A funding that saw the participation of Aramco-backed VC fund Wa\u2019ed Ventures to enter the Kingdom this year, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/real-estate-fintech-platform-stake-secures-14mln-in-series-a-funding-xzh8avcn\" style=\"\" rel=\"noopener\">statement<\/a>. The funding round was led by <a target=\"_blank\" href=\"https:\/\/www.mevp.com\/\" style=\"\" rel=\"noopener\">Middle East Venture Partners<\/a> and saw participation from local leading family conglomerate <a target=\"_blank\" href=\"https:\/\/www.aljomaih.com\/\" style=\"\" rel=\"noopener\">Al Jomaih<\/a><a target=\"_blank\" href=\"https:\/\/www.aljomaih.com\/\" style=\"\" rel=\"noopener\">Holding<\/a>, UAE\u2019s <a target=\"_blank\" href=\"https:\/\/www.mubadala.com\/\" style=\"\" rel=\"noopener\">Mubadala<\/a> and US-based private investment platform <a target=\"_blank\" href=\"https:\/\/republic.com\/\" style=\"\" rel=\"noopener\">Republic<\/a>. Stake previously <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2022\/08\/stake-raises-8-million-pre-series-round\" style=\"\" rel=\"noopener\">raised<\/a> USD 8 mn in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The funds will help finance expansion to Saudi: <\/strong>Stake will use the funds to expand into the Saudi market to become the first platform to allow individuals outside of the Kingdom to invest in real estate here. The company also plans to use the funding to grow their pool of investors, introduce new investment opportunities to its users, and scale its team.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Stake:<\/strong> Founded in 2020 in the UAE by Rami Tabbara (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/rami-tabbara\" style=\"\" rel=\"noopener\">Linkedin<\/a>), Manar Mahmassani (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/manarm\" style=\"\" rel=\"noopener\">Linkedin<\/a>), and Ricardo Brizido (<a target=\"_blank\" href=\"https:\/\/uk.linkedin.com\/in\/ricardobrizido\" style=\"\" rel=\"noopener\">Linkedin<\/a>), the digital real estate investment platform is designed to facilitate investments from overseas investors into local real estate. It saw over 200 properties worth AED 355 mn sold through its app, and has amassed over 500k users, the startup said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How does it work? <\/strong>The proptech company allows investors to purchase fractions of property, and earn income on a monthly basis, according to <a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2022\/08\/29\/dubai-based-stake-raises-8-million-to-let-people-across-the-globe-invest-in-local-properties\/\" style=\"\" rel=\"noopener\">Techcrunch<\/a>. The digital platform caps investments at 33% ownership in each property to spread out rental income across users. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cKSA is forecast 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,\u201d Stake cofounder &amp; co-CEO Mahmassani said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not the only UAE proptech eyeing Saudi: <\/strong>Dubai-based Digital mortgage platform Holo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/934a3c26-6791-433b-984a-39f81f646f4b\/%253cmark%253eholo%253c%2Fmark%253e-closes-pre-series-a-funding-round-to-boost-expansion-plans\" style=\"\" rel=\"noopener\">recently<\/a> closed a pre-series A round that will help it expand into the Kingdom and grow its presence across the GCC. <\/p>\n<p class=\"tag-border-left\">IN OTHER NEWS FROM STARTUP LAND-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>MSA Novo \u2014 an Abu-Dhabi-based emerging markets-focused venture capital firm \u2014<\/strong><strong> and <\/strong><strong>King Abdullah <\/strong><strong>University of Science and Technology inked an MoU<\/strong> that will see them partner up for \u201cjoint investment initiatives\u201d and develop startup accelerator programs here at home, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/msa-novo-king-abdullah-university-of-science-and-technology-sign-mou-mz1hexqt\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement also includes facilitating access to research, mentorship, entrepreneurship education, and technology transfer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Educational startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tahdir.online\/home\" style=\"\" rel=\"noopener\">Tahdir<\/a><\/strong><strong>raised SAR 1.2 mn (c. USD 320k) in its inaugural pre-seed<\/strong> <strong>funding round<\/strong> from a group of angel investors, <a target=\"_blank\" href=\"https:\/\/waya.media\/tahdir-raises-pre-seed-funding-round-of-usd306k-from-angel-investors\/\" style=\"\" rel=\"noopener\">Waya<\/a> reported. The funds will be channeled to fuel Tahdir\u2019s expansion beyond Al Ahsa \u2014 where it currently operates \u2014 to other regions in the Kingdom <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Tahdir:<\/strong> Founded by Mohammed Al Doukhi and Khalil Al Haid, Tahdir provided automated tools for daily school and educational management to ensure educational integration between school and home. It serves 92 schools with more than 30k users on the platform.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stake is set to become the first platform to allow individuals outside of the kingdom to invest in real estate here<\/p>\n","protected":false},"author":1,"featured_media":87061,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2556],"tags":[139,10,1250,179,2171],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-aramco","tag-enterpriseam-ksa","tag-mubadala","tag-startup-watch","tag-waed-ventures","wpautop","entry"],"acf":{"mongo_id":"6e6142b9-ce25-47ba-b3d0-72957ba0c9d2","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/989.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco\u2019s Wa\u2019ed Ventures among backers of UAE fintech startup Stake\u2019s expansion to Saudi","related_issue":[87047],"teaser":"Stake is set to become the first platform to allow individuals outside of the kingdom to invest in real estate here","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.db83460e-0479-4119-bd82-f07ac1cc04fd.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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