• Saudi Arabia-based Gathern, a peer-to-peer (P2P) vacation rental marketplace, has raised a $72 million Series B at a valuation of $266 million.
• The round is led by Sanabil Investments (PIF subsidiary) with participation from STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst.
• Founded in 2017 by Latifa Altamimi, Gathern offers users rental properties, including villas, apartments and yachts, among other options, directly from the owner. It is the first company in Saudi Arabia to be licensed by the Ministry of Tourism for P2P rentals, which means property owners do not need to get an individual licence to rent out their properties.
• Funds will support IPO preparation, inbound travel growth, long-term rentals, and AI-driven tech upgrades.
• In 2021, Gathern raised a $6 million Series A round, led by STV with participation from Vision Ventures, 500 Startups among other investors.

Press release:

Gathern, Saudi Arabia’s leading vacation rental platform, has raised $72 million in a Series B round led by Sanabil Investments, a wholly owned subsidiary of the Public Investment Fund (PIF), with participation from STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst. The funding round 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.

Founded in 2016 by Latifah Altamimi, Gathern started as a chalet booking platform before expanding into Saudi Arabia’s largest alternative hospitality marketplace, offering short-term and monthly rentals. Today, the company lists more than 72,000 private units operated by local hosts — representing nearly 15% of the total supply of hotel and non-hotel accommodations in the Kingdom. Gathern claims a 44% market share in the alternative hospitality sector, rising to 53% in Riyadh.

Since launch, Gathern has contributed $533 million in payouts to over 33,000 Saudi hosts, who generate meaningful monthly income by listing properties on the platform. The company says it has grown more than 500% in the last two years, with over 5 million registered users and guests from 150 nationalities.

The new capital will help Gathern prepare for an IPO on Tadawul while also accelerating expansion across Saudi Arabia and the wider region. Investments will focus on attracting inbound travellers, supporting long-term stay demand, and enhancing technology infrastructure, including AI-powered features, to improve the user experience.