Gulf’s Third Biggest Bank Leads Funding Round Into Property App

Stake, a Dubai-based fractional property investment platform, raised $31 million in a second fund-raising round that will help the fractional ownership firm expand its operations in Saudi Arabia and the United Arab Emirates and dig deeper into technology supporting the markets.

Emirates NBD PJSC, the Gulf’s third largest bank by market value, led the Series B funding round, while Abu Dubai sovereign wealth fund Mubadala Investment Co., Saudi Aramco’s venture capital arm and Middle East Venture Partners returned as investors, according to Rami Tabbara, the company’s co-founder.