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
We’re excited to announce that we’ve closed our SAR 270 million Series B funding round, led by Sanabil Investments, a company wholly owned by the Public Investment Fund (PIF), with participation from several strategic investors. This round values Gathern at over SAR 1 billion, reflecting the growing confidence in our performance and operating model, and paving the way for our plans to list on the Saudi Stock Exchange (Tadawul) in the near future.
Our Role in Shaping Alternative Hospitality
As is the leading Saudi platform in the alternative hospitality sector, we’re redefining how travel and stays work across the Kingdom. Though gathern, guests 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 day one, we’ve been the homegrown Saudi platform that founded the alternative hospitality market in the Kingdom and we’ve led its growth into one of the fastest-growing segments of the tourism sector. Over the years, we’ve 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. We’ve also helped close the gap in the supply of tourism accommodations, making us a key 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, we’ve 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. Today, we hold a 44% market share in the Kingdom’s alternative hospitality sector, rising to 53% in Riyadh, making Gathern the preferred choice for a wide segment of travelers.
Use of Investment and Expansion Plans
We’ll be using this new investment to accelerate our 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
In recent years, we’ve achieved exceptional operational performance. Today, more than 5 million users are registered on our platform, and we’ve welcomed guests from 150 nationalities. Payouts to our local hosts have now exceeded SAR 2 billion, underscoring the significant economic impact we’re delivering across Saudi Arabia. We’ve also achieved over 500% growth in the past two years, placing us among the fastest-growing and most influential tech companies in Saudi Arabia.
Closing this funding round marks a pivotal milestone in our journey. It reinforces our readiness to enter a new phase of expansion and corporate transparency as we prepare for our upcoming listing on the stock exchange.