Saudi-based vacation rental company Gathern has secured $72 million in a Series B funding round led by Sanabil Investments, a subsidiary of the Public Investment Fund. Other investors in the round include STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst.

The financing places Gathern’s valuation at more than $266 million. According to Termsheet, this makes it the highest-valued venture-backed startup in the Middle East founded and led by a woman.

The company said the funds will support its preparations for a future listing on Tadawul, Saudi Arabia’s stock exchange. While Gathern confirmed its IPO plans, it did not provide a specific timeline.

Founded in 2016 by Latifah Altamimi, Gathern started as a chalet booking platform. It has since expanded into a broader short-term rental marketplace, allowing individuals to list properties for local and international travelers. In Riyadh, where the company is headquartered, it also offers monthly rental options.

The company previously raised $6 million in a Series A round led by STV in 2021 and followed with an undisclosed pre-Series B round in 2022.

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