Mubadala and Aramco Invest in Dubai-Based Real Estate Fintech Stake
The Dubai-based digital real estate investing platform, Stake, has received a significant boost with a $14 million investment from prominent investors, including Mubadala Investment Co. and the venture capital arm of Saudi Aramco. This Series A funding round, led by Middle East Venture Partners, also saw participation from US-based private investing platform Republic.
Stake operates on a fractional ownership model, allowing individuals to invest in properties starting at just 500 dirhams ($136). With over 500,000 users, half of whom are from outside the UAE, the platform has already acquired more than 200 properties totaling 355 million dirhams.
The company plans to expand its operations to Saudi Arabia, aiming to become the first marketplace where international investors can participate in the regional real estate market. This move comes at a time when Dubai’s real estate market is experiencing significant growth, driven in part by the influx of affluent individuals from around the world.
In a separate development, the Deep Tech Nation Switzerland Foundation, established by UBS and Swisscom, is set to mobilize CHF50 billion over the next 10 years to support Swiss start-ups and scale-ups in the deep tech sector. This initiative aims to address the lack of venture capital in Switzerland, particularly in the research-intensive deep tech industry, and create up to 100,000 new jobs by enhancing financing for innovation.
UBS Switzerland President Sabine Keller-Busse expressed the company’s commitment to promoting innovation and entrepreneurship in Switzerland through the foundation. With a focus on addressing societal challenges through technology, the Deep Tech Nation Switzerland Foundation seeks to provide the necessary support for visionary tech ventures to thrive.
These developments underscore the growing interest and investment in the real estate and deep tech sectors, highlighting the potential for innovation and growth in these industries.