Fintech Company Stake and Insurtech Startup Anterior Secure Funding in Asia
Stake, a Dubai-based fintech firm, has secured million in funding from prominent investors, including Mubadala Investment Company, to expand its presence in Saudi Arabia. This funding round was led by Middle East Venture Partners, with participation from Aramco’s Wa’ed Ventures, Al Jomaih Holding, Republic, and Abu Dhabi sovereign wealth fund Mubadala Investment Company.
The company, founded in 2021, offers a digital platform that allows users to invest in real estate for as little as AED 500 (6). With over 573,000 users currently, Stake has acquired more than 200 properties valued at 355 million dirhams. Their goal is to become the first platform to enable individuals outside of Saudi Arabia to invest in local real estate.
On the other hand, Australian insurtech firm Anterior, previously known as Co:helm, has raised million in a Series A funding round led by NEA. This financing round, at a post-money valuation of million, also includes existing investors Sequoia and Neo, as well as angel investors like Mustafa Suleyman, co-founder of DeepMind and Inflection AI.
Anterior specializes in using artificial intelligence to streamline the health insurance approval process for medical procedures. Their LLM-powered co-pilot is designed to save time on gathering medical documentation, ultimately reducing denial rates and improving patient access to care.
