Riyadh - Mubasher: Saudi peer-to-peer (P2P) vacation rental platform Gathern has raised $72 million in Series B funding, led by Sanabil Investments, a PIF subsidiary.
The fundraising also witnessed the participation of STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst, according to a press release.
Termsheet highlighted that 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.
The new capital will enable Gathern to prepare for an initial public offering (IPO) on Tadawul while also accelerating expansion across Saudi Arabia and the wider region.
Investments will focus on attracting inbound travelers, supporting long-term stay demand, and improving technology infrastructure, including AI-powered features, to enhance the user experience.
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 license to rent out their properties.
Since launch, Gathern has contributed $533 million in payouts to more than 33,000 Saudi hosts, who generate meaningful monthly income by listing properties on the platform.
The company revealed that it has grown over 500% in the last two years, with more than 5 million registered users and guests from 150 nationalities.
