The Saudi startup helps property owners leapfrog bureaucratic paperwork to list rentals.
Female-led Saudi Arabian peer-to-peer (P2P) rental marketplace platform Gathern has secured $6 million in a Series A funding round led by Saudi venture capital firm STV and joined by Vision Ventures, 500 Startups, Mr. Naef Sultan AlAthel, and ARG Limited. G
athern allows anyone to rent a villa, apartment, room, or even yacht--because why not?--among other ‘stays’ directly through the owner and accessible via the website and app. The platform is a handy tool for property owners as it allows them to leapfrog the need to obtain individual rental licenses to rent out their properties.
Ahmad Alshammari, a partner at STV, stated that “we are incredibly excited to partner with Gathern – it is our first investment in the travel space, and the largest ever investment in a female-led Saudi startup. We believe that Latifa [Altamimi] and the Gathern team have the right engine to tackle this fast-growing market with a fresh approach.”
Gathern will be using the fresh funds to develop its product and deepen its geographical footprint within Saudi Arabia.
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