Pinnacle Capital Increases Stake in Gathern Through Secondary Investment

Latifah Altamimi, Gathern CEO

Saudi investment firm Pinnacle Capital has executed an undisclosed secondary market transaction to increase its stake in Gathern, a Riyadh-based alternative accommodation platform.

This equity purchase builds upon Pinnacle’s initial position established during Gathern’s $72 million Series B in August 2025, which assigned the company a valuation exceeding $267 million.

By acquiring existing shares rather than injecting primary capital, Pinnacle secures greater exposure to a platform reporting 72,000 accommodation units and $533 million (SAR 2 billion) in historical host payouts.

Saudi investment firm Pinnacle Capital has increased its investment in Saudi alternative accommodation platform Gathern, adding to its existing position through the Pinnacle Growth & Secondary Fund.

Announced on September 28, 2026, the additional investment increases Pinnacle’s ownership in Gathern, although the transaction value and resulting stake were not disclosed. Pinnacle said the deal reflects its strategy of pursuing secondary investment opportunities in established regional technology companies.

Why has Pinnacle increased its investment in Gathern?

Pinnacle said its decision was supported by Gathern’s operational performance, expanding market presence and potential path toward a future public listing.

The transaction also represents a follow-on investment after Pinnacle first backed Gathern in its SAR270 million ($72 million) Series B in August 2025. That round valued Gathern at more than SAR1 billion ($267 million).

Unlike a primary funding round, a secondary investment generally involves existing shares rather than new capital being issued by the company. In this case, Pinnacle has not disclosed whether the additional transaction involved existing shareholders or another structure.

What does Gathern do and how large is its platform?

Founded in 2016, Gathern operates a digital marketplace for alternative accommodation in Saudi Arabia. The platform connects travellers with locally hosted properties, including apartments, villas, chalets, farms and camps.

At the time of its 2025 Series B, Gathern reported:

• More than 5 million registered users
• Users from 150 nationalities
• More than 72,000 accommodation units
• More than SAR2 billion paid to local hosts
• A claimed 44% share of Saudi Arabia’s alternative accommodation market
• A claimed 53% share of the alternative accommodation market in Riyadh

Gathern also said its accommodation inventory represented nearly 15% of Saudi Arabia’s total hotel and non-hotel supply at the time of the Series B.

Gathern's key operating metrics

Metric	Reported figure	Period
Series B funding	SAR270M ($72M)	2025
Series B valuation	>SAR1B ($267M)	2025
Registered users	>5M	2025
User nationalities	150	2025
Accommodation units	>72,000	2025
Host payouts	>SAR2B	2025
Saudi alternative accommodation market share	44%	2025
Riyadh alternative accommodation market share	53%	2025

These figures were reported by Gathern in connection with its Series B and should therefore be understood as company-reported metrics, rather than independently verified market-share estimates.

Who participated in Gathern's $72 million Series B?

Gathern's August 2025 Series B was led by Sanabil Investments, which is wholly owned by Saudi Arabia's Public Investment Fund (PIF).

Other participating investors included Endeavor Catalyst, Pinnacle Capital, Nuwa Capital, and STV.

Gathern said the funding would support several areas of expansion, including:

• Local and regional market expansion
• Technology infrastructure and AI-driven solutions
• Growth of its host network
• Improved user experience
• Attracting international visitors
• Expansion into longer-term accommodation offerings

The Series B therefore established the investment relationship between Gathern and Pinnacle that the latest transaction builds upon.

What are Gathern's plans for an IPO?

Gathern has been positioning itself for a potential listing on the Saudi Exchange (Tadawul).

Following the 2025 Series B, CEO Latifah Altamimi said the company was targeting an IPO in 2028. She also outlined plans to expand beyond accommodation into adjacent travel services, including car rentals, flights and curated experiences, while pursuing expansion into the GCC beginning with Kuwait and Bahrain.

Gathern itself said its 2025 Series B was part of its preparations for a future Saudi stock-market listing.

The 2026 investment announcement similarly cited Gathern's potential path toward a public listing as one factor supporting Pinnacle's additional investment.

What does Pinnacle's additional investment mean for Gathern?

The additional investment gives Pinnacle greater exposure to Gathern as the company moves from its 2025 Series B into its next stage of expansion.

For Gathern, the investment comes after reporting 5 million+ users, 72,000+ accommodation units and more than SAR2 billion in host payouts in 2025. For Pinnacle, it represents a continued position in a Saudi technology company that has identified a potential 2028 Tadawul listing as a longer-term objective.

The financial terms of the September 2026 transaction, including its valuation and Pinnacle's resulting ownership percentage, remain undisclosed.