Gathern, The Vacation Rental Platform Of Saudi Arabia, Secures Seventy-Two Million US Dollars In Series B Funding

In its Series B funding round, Gathern, one of the top vacation rental platforms in Saudi Arabia, raised a healthy Seventy-Two Million US Dollars. The company is now valued at an estimated Two Sixty Six Million US Dollars, thanks to the most recent investment.

In line with the nation’s larger economic goals under Vision 2030, this funding is a crucial step in Gathern’s path to becoming listed on the Saudi Stock Exchange.

This most recent development represents a significant turning point for the business, which was established in Riyadh in 2017. The funds raised in this round will support Gathern’s growth both domestically and regionally, in addition to helping the company maintain its position as a market leader in Saudi Arabia’s vacation rental industry.

Strong Backing From Sanabil Investments And Key Partners

The funding round was led by Sanabil Investments, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF). Sanabil Investments has been instrumental in supporting several startups within the Kingdom, aligning with the government’s vision of diversifying the economy away from oil dependency.

Other significant investors in the round include Endeavor, Pinnacle, Nuwa Capital, and STV, who collectively bring a wealth of experience and resources to the table.

This influx of capital highlights growing investor confidence in Gathern’s business model and its potential to reshape the travel and hospitality landscape in Saudi Arabia and the wider Middle East region. The company’s ability to attract top-tier investors further strengthens its position as a key player in the alternative hospitality sector.

Vision 2030: Gathern’s Role In Saudi Arabia’s Tourism Growth

The funding will be directed towards expanding Gathern’s operations in both domestic and international markets. The company is particularly focused on attracting more inbound travellers to Saudi Arabia by offering diverse accommodation options.

Gathern’s platform lists over 72,000 private homes, including villas, apartments, resorts, and farms. These properties are managed by local hosts, giving guests a unique, culturally immersive experience while supporting local businesses.

This expansion also includes introducing artificial intelligence solutions to further enhance guest experiences and streamline operations. By doing so, Gathern aims to stay at the forefront of the fast-evolving vacation rental market, tapping into the increasing demand for technology-driven solutions in travel and hospitality.

Gathern’s expansion efforts are in direct alignment with Saudi Vision 2030, which seeks to position Saudi Arabia as a global hub for tourism and hospitality. Vision 2030 focuses on diversifying the economy by increasing non-oil revenues, with tourism being a central pillar.

Gathern’s role in this strategy is vital, as the platform supports the country’s push to attract both international tourists and domestic travellers, creating more opportunities for economic growth.

Gathern’s Market Leadership And Impact

Since its founding, Gathern has made significant strides in capturing a share of Saudi Arabia’s alternative hospitality sector. The platform currently holds a commanding 44% market share, a remarkable achievement considering the competitive nature of the industry. Over 5 million users have signed up to use Gathern’s platform, a testament to its growing popularity among travellers.

The platform’s extensive offering of 72,000 properties includes a wide range of accommodation types, from high-end villas to rustic chalets and farms. This variety ensures that Gathern can cater to a diverse set of travellers, from families looking for a comfortable vacation home to tourists seeking a more adventurous and authentic experience.

Gathern’s model empowers local hosts by enabling them to unlock the full potential of their properties. Through the platform, hosts can reach a larger audience of travellers, generating sustainable income while contributing to the local economy. This model also supports the government’s broader economic goals of creating new income streams for Saudis and reducing dependence on oil revenues.

Looking Ahead: Institutional Transparency And Future Growth

As Gathern prepares for its eventual listing on the Saudi Stock Exchange, the company is focused on increasing its institutional transparency. The funding round will help the company establish the necessary frameworks to ensure corporate governance standards are met, making it an attractive option for investors when it eventually goes public.

This transition marks a critical point in the company’s development, as it seeks to become a leading player not just in Saudi Arabia but across the Middle East.

Gathern’s leadership sees this funding as a stepping stone to a new phase of growth. The company aims to enhance its technological capabilities, further develop its platform, and expand its user base both within Saudi Arabia and abroad.

With the support of strategic investors and a strong alignment with Saudi Vision 2030, Gathern is well-positioned to play a significant role in shaping the future of Saudi Arabia’s tourism and hospitality sector.

A Bright Future For Gathern

Looking ahead, Gathern’s trajectory appears promising. The company’s commitment to expanding its offerings, supporting local hosts, and providing unique experiences for travellers sets it apart in the competitive vacation rental market.

The Seventy-Two Million US Dollars raised in this Series B funding round is a clear indicator of Gathern’s potential to thrive and continue making a significant impact in Saudi Arabia and beyond.

As Gathern moves towards its goal of listing on the Saudi Exchange, the company remains focused on executing its growth strategy, aligned with the national agenda to create a thriving, diversified economy.

The Kingdom’s push to make tourism a major contributor to its GDP under Vision 2030 will benefit from platforms like Gathern, which are innovating and evolving to meet the growing demands of travellers from all over the world.

Gathern is well-positioned to contribute to the development of Saudi Arabia as a top travel destination for both tourists and investors by continuing to support local hosts and offering genuine, culturally rich travel experiences.

Gathern is poised to maintain its leadership position in Saudi Arabia’s tourism and alternative hospitality industries with this sizeable new investment and a clear future road-map, further solidifying its role as a key player in the Kingdom’s efforts to diversify its economy.

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