Gathern eyes Saudi market listing in 2028: CEO

Saudi peer-to-peer rental services platform Gathern plans IPO on the Saudi market in 2028.

The Saudi peer-to-peer rental services platform Gathern is targeting an initial public offering (IPO) on the Saudi market in 2028, CEO Latifah Altamimi said as reported by Bloomberg.

Altamimi added that the recent funding round, in which the company raised SAR 270 million, will support its expansion into new services, including car rentals, flights, and customized experiences, starting next year.

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The company also plans to use the funding to expand internationally, starting with Kuwait and Bahrain, then focusing on other GCC countries, she added.

She further indicated that the company currently holds a 44% market share in Saudi Arabia, with over 72,000 properties and five million users.

Altamimi also noted that Gathern achieved 100% revenue growth last year and began generating profit in 2023.

According to data available on Argaam, Gathern was founded in 2017 as the first licensed peer-to-peer holiday rental platform in Saudi Arabia offering private vacation homes such as apartments, villas, chalets, resorts, camps, farms, and other types of holiday accommodations.