Pinnacle increases stake in Saudi hospitality startup Gathern

Pinnacle Capital, through its Pinnacle Growth & Secondary Fund, has increased its investment in Saudi alternative accommodation startup Gathern, raising its ownership percentage in the company. The precise financial details of the transaction and Pinnacle's new ownership stake remain undisclosed. Founded in 2016 by Latifah Altamimi and Faisal Alanazi, Gathern operates a digital marketplace for alternative accommodation in Saudi Arabia, offering travelers a platform to book properties such as apartments, villas, chalets, farms, and camps locally.

Initially, Pinnacle contributed to Gathern's growth in August 2025 through a $72 million Series B funding round, led by Sanabil Investments, with additional backing from Endeavor Catalyst, Nuwa Capital, and STV. This investment valued Gathern at over $267 million at the time. The latest infusion of capital follows Gathern's ongoing expansion within Saudi Arabia's alternative accommodation sector, with ambitions to secure a potential listing on the Saudi stock market, tentatively aiming for 2028.

The company's CEO, Latifah Altamimi, has outlined plans to further develop its platform, targeting an IPO alongside the expansion of its services into other travel-related offerings. Pinnacle's decision to augment its investment stems from Gathern's robust operational performance, its expanding market footprint, and the strategic trajectory towards a public listing on the Saudi Exchange.