Online investment firm Republic has announced a new partnership that will see the Fintech expand into the Middle-East. According to a note from the firm, Republic has formed a partnership with Stake, an online investment platform for real estate in Dubai.
Republic claims the deal will allow its users the opportunity to access high-value real estate investments. Stake says it aims to democratize the real estate market for investors globally.
Stake is co-founded by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido.
Stake reports 500,000 users from over 160 countries having generated approximately $3 million in rental income paid out to investors since its launch three years ago. The platform claims property transactions of around $80 million.
The company points to the success of its second property in Dubai – Al Majara. The company says the recent sale of Al Majara delivered a 51% appreciation rate in just two and a half years. Investors in this property also received dividends.
Kendrick Nguyen, CEO at Republic, said that Stake provides a unique opportunity for investors to diversify their portfolios and tap into the thriving real estate markets of the Middle East.
“Our partnership with Stake aligns with Republic’s mission to democratize investment opportunities globally and solidifies our presence in the MENA region.”
Republic is already active in the real estate sector, but so far, this has been limited to North America. Republic is operating around the world, perhaps most importantly via London-based Seedrs, a securities crowdfunding platform that is active in both the UK and the European Union.
Republic reports more than $3 billion raised through its ecosystem, which to date comprises over 3 million individual, high-net-worth, and institutional investors from over 100 countries.