Saudi Arabia’s leading vacation rental platform, Gathern, has raised $72 million in a Series B funding round, setting the stage for its next growth chapter. The round was led by Sanabil Investments, a subsidiary of the Public Investment Fund, alongside participation from STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst.
The deal values Gathern at over $266 million, making it the highest-valued venture-backed startup in the Middle East founded and led by a woman, according to Termsheet. The company also confirmed that this funding positions it for a future IPO on Tadawul, although no timeline has been disclosed.
From Chalet Rentals to a Hospitality Powerhouse
Founded in 2016 by Latifah Altamimi, Gathern began as a chalet booking service. Over the years, it has transformed into the Kingdom’s largest alternative hospitality platform, enabling global travelers to book short-term stays directly from individual hosts.
Today, the platform offers:
- ✅ Over 72,000 private units across Saudi Arabia
- ✅ Monthly rental options in Riyadh
- ✅ Access to properties managed by 33,000 Saudi hosts
This network represents nearly 15% of Saudi Arabia’s total hospitality supply. Gathern holds a 44% market share nationally, climbing to 53% in Riyadh, making it a clear leader in the sector.
Strong Economic and Social Impact
Since its inception, Gathern has played a vital role in Saudi Arabia’s economy. According to company data:
- ✅ More than $533 million has been paid to local hosts
- ✅ Over 5 million users from 150 nationalities have used the platform
- ✅ Growth has surged 500% in the past two years
For many Saudi hosts, Gathern has become a significant source of monthly income, aligning perfectly with Vision 2030’s goal of fostering new economic opportunities for citizens.
What the New Funding Means
In a statement, Gathern described the latest round as a “pivotal milestone,” signaling both expansion and readiness for corporate transparency as it prepares for public listing. The company plans to deploy the new funds in several key areas:
- ✅ Regional Expansion – Targeting both domestic travelers and inbound international guests
- ✅ Long-Term Rentals – Catering to growing demand for extended stays
- ✅ Technology Development – Enhancing its platform with AI-powered user experiences
- ✅ Host Network Growth – Expanding its base of Saudi hosts to meet rising demand
A Step Toward Vision 2030
Saudi Arabia is rapidly positioning itself as a global tourism destination. Gathern’s growth and future IPO fit into the country’s wider Vision 2030 strategy, which emphasizes tourism, digital innovation, and private-sector development.
The company’s rise also reflects a milestone for female-led entrepreneurship in the region, setting a precedent for future founders.
With its strong market position, fast growth, and fresh capital, Gathern is not just redefining hospitality in Saudi Arabia—it’s creating a platform with the potential to rival global players in alternative accommodations.