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.
—----------------------
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar