Saudi-based alternative hospitality platform Gathern has announced the successful closure of its Series B funding round worth SAR 270 million (USD 72 million), led by Sanabil Investments, a company fully owned by the Public Investment Fund, with participation from a group of strategic investors.
The round was completed at a valuation exceeding SAR 1 billion, marking a significant milestone in the company’s growth journey as it prepares for a potential listing on the Saudi Exchange (Tadawul).
Pioneering alternative hospitality in Saudi Arabia
Gathern has established itself as the leading alternative hospitality platform in the Kingdom, reshaping the travel and accommodation experience by enabling guests to stay in privately managed homes hosted by locals. This model not only provides a unique cultural experience but also empowers thousands of Saudis to generate sustainable additional income from underutilized properties.
Strong economic contribution
Since its launch, Gathern has injected over SAR 2 billion into the local economy, benefiting more than 33,000 Saudi hosts who earn regular monthly income. The platform currently offers over 72,000 private hospitality units, representing nearly 15% of the total lodging supply in the Kingdom, and holds a 44% market share nationwide, with 53% in Riyadh alone.
Rapid growth and expansion plans
Gathern plans to leverage the new investment to support local and regional expansion, attract international visitors, and meet the demand for long-term stays in line with Saudi Vision 2030 goals. The funds will also be used to enhance its technology infrastructure, integrate AI-driven solutions, and expand its host network.
The platform has already surpassed 5 million registered users, welcomed guests from 150 nationalities, and achieved more than 500% growth over the past two years, solidifying its position as one of the fastest-growing Saudi tech companies.
This Series B round marks a turning point in Gathern’s journey, reinforcing its readiness for a new era of growth, transparency, and institutional maturity ahead of its anticipated public listing.
