Riyadh – Sharikat Mubasher: Saudi Arabia’s alternative hospitality platform Gathern closed a SAR 270 million ($72 million) Series B investment round, led by Sanabil Investments, a subsidiary of the Public Investment Fund.

The round also saw participation from Endeavor Catalyst, Pinnacle Capital, Nuwa Capital, and STV, as per the company’s announcement on X.com.

The deal values the company at over SAR 1 billion ($267 million) as it prepares for a future listing on the Saudi stock market.

Founded in 2017 by Latifah Altamimi, Gathern has established itself as the pioneer of Saudi Arabia’s alternative hospitality sector, driving its rapid growth into one of the Kingdom’s fastest-developing tourism segments.

Since its launch, the platform has attracted more than 5 million registered users, facilitated over SAR 2 billion in payouts to local hosts, and built a network of more than 72,000 hospitality units, representing nearly 15 percent of the country’s total hotel and non-hotel supply. Gathern currently holds 44 percent of the national market share in alternative hospitality, with its dominance rising to 53 percent in Riyadh.

The company plans to use the new funding to expand locally and regionally, enhance its technology infrastructure with AI-driven solutions, improve user experience, and grow its network of hosts.