Jeddah
Gathern, a Riyadh-based startup similar to Airbnb, announced on Sunday the completion of a SR22 million ($6 million) Series A funding round headed by Saudi venture capital firm STV and supported by existing investors Vision Ventures, 500 Startups, Saudi businessman Naef Sultan AlAthel, and ARG Limited.
The company plans to use the new funding to invest in developing its product and expanding its geographic presence in Saudi Arabia, where it is now present in more than 100 towns and cities, including Riyadh, Jeddah, Dammam, Abha, Al-Baha, Taif, Al-Ula, and Umluj.
Founded in 2017 by entrepreneur Latifa Altamimi, Gathern allows users to rent a villa, apartment, farm, caravan, room, chalet, camp, or yacht directly from an individual owner through its platform on a daily basis, and it is the first company in Saudi Arabia that has obtained this license from the Ministry of Tourism.—AN
