Gathern Closes SAR 270 Million Series B Funding Round Led by Sanabil Investments, Valuing the Company at Over SAR 1 Billion in Preparation for Saudi Stock Market Listing

Gathern announced the closing of its SAR 270 million Series B funding round, led by Sanabil Investments, a wholly owned company by the Public Investment Fund (PIF), with participation from several strategic investors. The deal was executed at a valuation exceeding SAR 1 billion, reflecting growing confidence in the company’s performance and operational model, and supporting its plans to list on the Saudi Stock Exchange “Tadawul” in the near future.

Gathern’s Role in Shaping Alternative Hospitality
Gathern is the leading Saudi platform in the alternative hospitality sector, playing a pivotal role in redefining travel and accommodation experiences within the Kingdom. The platform offers unique stays that allow guests to explore the culture and regions of Saudi Arabia up close through private homes hosted by local residents. This approach not only provides a distinctive alternative to traditional hotel models, but also empowers thousands of hosts to monetize their underutilized properties and generate sustainable additional income.

Market Leadership and Local Economic Impact
Since its inception, Gathern has been the homegrown Saudi platform that founded the alternative hospitality market in the Kingdom and led its growth into one of the fastest-growing segments of the tourism sector. Over the years, the platform has injected more than SAR 2 billion into the local economy, benefiting over 33,000 Saudi hosts who earn significant monthly income, creating sustainable economic opportunities for individuals and families across the country. Gathern has also played a key role in closing the gap in the supply of tourism accommodations, making it a major contributor to Saudi Vision 2030 goals by attracting tourists, localizing services, and strengthening the Kingdom’s position as a global destination.

Over the past nine years, Gathern has built a fully integrated ecosystem of more than 72,000 private hospitality units operated by local hosts across Saudi Arabia, representing nearly 15% of the total hotel and non-hotel supply in the Saudi market. The platform holds a 44% market share in the Kingdom’s alternative hospitality sector, rising to 53% in Riyadh, making it the preferred choice for a wide segment of travelers.

Use of Investment and Expansion Plans
The new investment will be used to accelerate Gathern’s local and regional expansion, with a particular focus on attracting inbound travelers and catering to long-term stay demand, in line with Vision 2030’s goal of positioning Saudi Arabia as a global hub for tourism and hospitality. The expansion will also include further investment in technology infrastructure, enhancing user experience through artificial intelligence solutions, and growing the host network and diversity of listings.

Rapid Growth and Record-Breaking Figures
Gathern has recorded exceptional operational performance in recent years, with more than 5 million registered users on the platform and guests from 150 nationalities. Payouts to local hosts have exceeded SAR 2 billion, underscoring the platform’s significant economic impact. The company has achieved over 500% growth in the past two years, placing it among the fastest-growing and most influential tech companies in Saudi Arabia.

Closing this funding round marks a pivotal milestone in Gathern’s journey, reinforcing its readiness to enter a new phase of expansion and corporate transparency in preparation for its listing on the stock exchange.