The round was led by Combined Growth Real Estate, with participation from Dubai-based private family office Vivium Capital, Verve Ventures, Lama Holding from Riyadh, Saudi Arabian angel investor Mishaal Alireza, and shareholders of the UK’s Chalgrove Properties Limited. Stake will use the funds to scale the platform by introducing new products and features, invest in sales and marketing, and grow the current team of 15 to fulfil its goals in technology innovation, property sourcing, product development and operational excellence. The platform currently consists of units in Downtown Dubai, Dubai Marina and soon DIFC and City Walk. Since its launch, Stake has over 4,000 registered users from 54 different nationalities, achieving 30 per cent month on month increase in sales. The company is also in discussions with strategic partners and regulators in the Saudi Arabia, and intends to expand into the UK.
This fundraise allows us to build the go-to digital real estate investment platform for Dubai property and eventually the region. The Dubai residential property investment market offers very attractive opportunities to investors for growth in value and strong current income, as the current high supply gets absorbed by the very strong demand. Stake allows investors to participate directly in this market and make diversified bets on properties through partial ownership deals.