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  • 24-05-21

    Riyadh-based startup announces completion of Series A funding round

    (MENAFN)The achievement of a SR22 million (USD6 million) Series A funding round headed by Saudi venture capital firm STV and held up by investors Vision Ventures, 500 Startups, Saudi businessman Naef Sultan AlAthel, and ARG Limited was proclaimed by Gathern, a Riyadh-based startup similar to Airbnb.

    The company aims to apply the new funding to invest in improving its product and increasing its geographic incidence in Saudi Arabia, where it is now present in over 100 towns and cities, including Riyadh, Jeddah, Dammam, Abha, Al-Baha, Taif, Al-Ula, and Umluj.

    Gathern permits 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 gained this license from the Ministry of Tourism.

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