Gathern Raises $72M, Eyes IPO and GCC Expansion by 2028

Gathern, Saudi Arabia’s leading vacation rental platform, has raised US$72 million in Series B funding, signaling a major step in its growth journey.

The round, which closed last month, was led by Sanabil Investments and Saudi Technology Ventures, underscoring investor confidence in Saudi Arabia’s rapidly expanding alternative hospitality sector.

Founded in 2016, Gathern has positioned itself as a key player competing with global giants such as Airbnb, offering a wide range of vacation rentals across the Kingdom. The company turned profitable in 2023 and reported a 100 percent year-on-year revenue growth, though specific figures were not disclosed.

Key Highlights

Gathern raised US$72M Series B from Sanabil Investments & STV
Plans to add car rentals, flights, and experiences in 2025
Eyes IPO in 2028 after expanding into GCC markets

With the fresh capital, Gathern plans to diversify its offerings beyond accommodations by adding car rentals, flights, and curated travel experiences starting in 2025. This expansion aims to transform the platform into a one-stop travel ecosystem catering to domestic and international travelers.

International expansion is also a priority, with Kuwait and Bahrain as the first target markets, followed by other Gulf Cooperation Council (GCC) countries. Looking ahead, CEO Latifah Altamimi revealed that Gathern is preparing for an IPO in 2028, aligning with its vision of becoming a regional travel-tech leader.

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This funding milestone positions Gathern to capitalize on Saudi Arabia’s booming tourism sector, driven by Vision 2030’s push to diversify the economy and boost domestic and inbound travel.