Saudi Arabia’s leading short-term rental platform Gathern has secured SAR 270 million ($72 million) in Series B funding, marking a pivotal moment for the kingdom’s alternative hospitality sector. The investment round, spearheaded by Sanabil Investments—a wholly-owned subsidiary of the Public Investment Fund—attracted participation from notable investors including STV, Nuwa Capital, Endeavor Catalyst, and Pinnacle Capital.
The funding round values the Riyadh-based company at over SAR 1 billion ($266 million), setting the stage for a potential public listing on the Saudi Exchange in coming months. This milestone represents one of the largest venture capital raises in the Saudi travel technology space and underscores growing investor confidence in the kingdom’s tourism transformation agenda.
Market Leadership in Alternative Hospitality
Since launching in 2017, Gathern has established itself as the dominant force in Saudi Arabia’s peer-to-peer accommodation market. The platform, founded by entrepreneurs Latifah Altamimi and Eman Alsuwailem, currently commands a 44% market share across the kingdom and an even stronger 53% share in the capital city of Riyadh.
The company operates more than 35,000 accommodations spanning 280 cities, offering travelers access to traditional homes, heritage sites, and unique desert experiences managed by local hosts. Gathern holds the distinction of being the first short-term rental platform to receive official licensing from the Saudi Ministry of Tourism, providing regulatory legitimacy in a rapidly evolving market.
Impressive Growth Metrics Drive Investor Interest
The funding success stems from remarkable growth statistics that demonstrate Gathern’s market traction. The platform has attracted over 5 million users representing 150 different nationalities, reflecting Saudi Arabia’s growing appeal as an international destination. More significantly, the company has facilitated SAR 2 billion in payments to local hosts, directly contributing to the kingdom’s economic diversification goals.
Recent performance data shows exceptional momentum, with the company reporting growth exceeding 500% over the past two years. This expansion has supported more than 33,000 Saudi hosts, enabling property owners nationwide to generate sustainable income from their real estate assets while providing authentic cultural experiences to visitors.
Strategic Expansion Plans and Technology Investment
The fresh capital injection will primarily fuel Gathern’s domestic and international expansion strategy, with particular emphasis on attracting foreign visitors to Saudi Arabia. The company plans to strengthen its long-term accommodation offerings, addressing the growing demand for extended stays from business travelers and digital nomads.
Technology infrastructure represents another key investment area, with funds allocated toward developing artificial intelligence-driven solutions to enhance user experiences. These improvements align with Saudi Vision 2030 objectives to establish the kingdom as a global tourism and hospitality destination through digital innovation.
Building on Previous Investment Success
This Series B round follows Gathern’s pre-Series B funding completed in April 2022, which was led by Shurafa Real Estate Development alongside strategic partners including Al Majdia Residence, Al Ajlan Riviera, and Al Safa Real Estate Development. The progression demonstrates sustained investor appetite for Saudi hospitality technology ventures.
Earlier this year, Gathern earned recognition through its selection as an Endeavor Entrepreneur, highlighting its trajectory toward becoming a regional hospitality leader. This endorsement from the global entrepreneurship network further validates the company’s business model and growth potential.
Economic Impact and Future Outlook
The platform’s contribution of over SAR 2 billion to the local economy illustrates its role in supporting Saudi Arabia’s tourism sector development. By connecting international visitors with local hosts, Gathern facilitates cultural exchange while creating economic opportunities across multiple regions of the kingdom.
As Saudi Arabia continues implementing tourism initiatives under Vision 2030, companies like Gathern serve as critical infrastructure enabling the sector’s expansion. The anticipated public listing will provide additional growth capital while offering Saudi retail investors exposure to the kingdom’s hospitality transformation.
The successful funding round positions Gathern to capitalize on increasing international interest in Saudi Arabia as a travel destination, while its technology investments should enhance competitive advantages in the regional market. With regulatory support and strong financial backing, the platform appears well-equipped to maintain its leadership position as the Saudi hospitality sector continues evolving.