Gathern secures $72m funding round led by PIF’s Sanabil Investments

Saudi Arabia’s peer-to-peer vacation rental platform Gathern has raised $72 million in Series B funding, led by Sanabil Investments, part of the Public Investment Fund (PIF). The round also included participation from STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst, underscoring strong investor confidence in the company’s growth trajectory and the broader travel and hospitality sector in the region.

The funding values Gathern at over $266 million, reportedly making it the highest-valued venture-backed startup in the Middle East founded and led by a woman. The company plans to use the new capital to prepare for an initial public offering on Tadawul and to accelerate expansion across Saudi Arabia and neighboring markets.

Strategic priorities for the new funding

• IPO readiness: Strengthening governance, operations, and financial infrastructure to support a future listing.
• Geographic expansion: Scaling coverage within Saudi Arabia and extending services across the wider region.
• Demand growth: Attracting more inbound travelers and supporting long-term stay use cases.
• Technology upgrades: Investing in infrastructure and AI-powered features to enhance discovery, booking, trust, and overall user experience.

About Gathern

Founded in 2017 by Latifa Altamimi, Gathern connects travelers directly with property owners, offering a wide range of accommodations and experiences—villas, apartments, chalets, and even yachts—through a streamlined P2P marketplace. It is the first company in Saudi Arabia to be licensed by the Ministry of Tourism for peer-to-peer rentals, allowing property owners to list without obtaining individual licenses, thereby reducing barriers to entry and encouraging broader participation.

Growth and impact

• Host earnings: Since launch, Gathern has facilitated approximately $533 million in payouts to more than 33,000 Saudi hosts, supporting meaningful monthly income for local property owners.
• User base: The platform has surpassed 5 million registered users, welcoming guests from 150 nationalities.
• Scale: The company reports more than 500% growth over the past two years, reflecting rising demand for flexible, locally-rooted accommodations and experiences.

Gathern’s model aligns with Saudi Arabia’s wider tourism ambitions by expanding accommodation options, elevating hospitality standards, and enabling micro-entrepreneurship across the Kingdom. With fresh capital to deepen its technology stack and expand market reach, the company is positioned to play a larger role in shaping the region’s travel ecosystem while progressing toward a potential public listing.