Press release:
Saudi investment firm Pinnacle Capital, through its Pinnacle Growth & Secondary Fund, has made an additional investment in Saudi alternative accommodation platform Gathern, increasing its ownership in the company.
The financial value of the transaction and Pinnacle's resulting ownership stake were not disclosed. Pinnacle described the investment as part of its strategy to identify secondary investment opportunities in regional technology companies.
Founded in 2016 by Latifah Altamimi and Faisal Alanazi, Riyadh-based Gathern operates a digital marketplace for alternative accommodation, allowing travellers to book locally hosted properties across Saudi Arabia, including apartments, villas, chalets, farms and camps.
Pinnacle previously backed Gathern as part of the company's SAR270 million ($72 million) Series B, which closed in August 2025. The round was led by Sanabil Investments, wholly owned by Saudi Arabia's Public Investment Fund, with participation from Endeavor Catalyst, Pinnacle, Nuwa Capital and STV.
The Series B valued Gathern at more than SAR1 billion ($267 million) and was intended to support its local and regional expansion, technology infrastructure and growth of its host network.
At the time of the round, Gathern said it had surpassed 5 million registered users from 150 nationalities, with more than 72,000 accommodation units available through its platform.
The company also said it had paid more than SAR2 billion to local hosts, while estimating its share of Saudi Arabia's alternative accommodation market at 44%, rising to 53% in Riyadh.
Pinnacle said its decision to increase its investment was supported by Gathern's operational performance, expanding market presence and its path towards a potential public listing.
Gathern has previously outlined plans for an eventual listing on the Saudi Exchange. In September 2025, CEO Latifah Altamimi said the company was targeting an IPO in 2028, alongside plans to expand into adjacent travel services.
The latest transaction increases Pinnacle's exposure to Gathern as the company continues to expand its position in Saudi Arabia's hospitality and alternative accommodation market.