Saudi vacation rental giant Gathern has raised $72 million in a Series B round led by Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), with participation from STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst.
The round values the platform 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.
Founded in 2016 by Latifah Altamimi, Gathern began as a chalet booking platform and has since evolved into Saudi Arabia’s largest alternative hospitality marketplace, offering both short-term and monthly rentals.
Today, it lists more than 72,000 private units operated by local hosts, representing nearly 15% of the Kingdom’s total accommodation supply. The company commands a 44% market share in the alternative hospitality segment — rising to 53% in Riyadh.
Since its launch, Gathern has facilitated $533 million in payouts to over 33,000 Saudi hosts, enabling them to generate significant monthly income. The platform has grown over 500% in the past two years, now serving 5 million registered users from 150 nationalities.
IPO on the Horizon
The fresh funding will accelerate Gathern’s expansion in Saudi Arabia and across the wider MENA region while preparing for an IPO on Tadawul.
Investments will also target inbound tourism growth, long-term rental demand, and AI-powered enhancements to improve user experience and platform efficiency.
“Gathern’s success reflects both the strength of Saudi entrepreneurship and the appetite for alternative hospitality experiences,” Altamimi said. “This funding marks a new chapter as we scale to meet rising demand and build a globally competitive platform from Saudi Arabia.”
By positioning itself at the intersection of travel tech, alternative hospitality, and AI-driven services, Gathern is cementing its role not just as a national champion but as one of the most influential startups shaping the Kingdom’s digital economy.
