Saudi-based vacation rental platform Gathern has been highlighted as one of the standout performers in Endeavor Catalyst’s newly released 2025 Annual Report. The peer-to-peer rental marketplace, which raised a $72 million Series B led by Sanabil, represents a significant success story for the MENA region’s burgeoning travel-tech sector and serves as a key indicator of the “Elsewhere” trend—a movement where global capital increasingly follows high-growth companies outside of traditional hubs like Silicon Valley.
Global Capital Pivots To Emerging Markets
The report, titled “Silicon Valley Got Crowded Again,” notes that while AI has temporarily pulled a significant portion of venture capital back to the United States (79% of global AI funding in 2025), long-term returns are increasingly being generated in undercapitalized markets. Emerging markets currently account for 85% of the world’s population and nearly 67% of global GDP growth over the last decade, yet they receive only 6% of global capital investment.
Endeavor Catalyst reached a milestone of 400 investments in 2025, maintaining a pace of one investment per week. Notable global rounds alongside Gathern included:
- Hala (Saudi Arabia): Fintech startup that saw the debut investment of TPG’s The Rise Fund in the Middle East.
- ElevenLabs (Poland): Audio AI research company valued at $11 billion.
- Reflection AI (Greece): Open-source AI lab that raised a $2 billion Series B.
- Runway (Chile): AI video generation platform now valued at $5.3 billion.
Liquidity Surges In The MENA Ecosystem
A critical takeaway for VCs and tech professionals in the MENA region is the resurgence of liquidity. Endeavor Catalyst recorded ten liquidity events in 2025—a massive jump from just one in 2024. The Middle East played a central role in this exit activity:
- Property Finder: The regional real estate giant completed a partial secondary sale as part of a share buyback in early 2026.
- Tabby: The BNPL unicorn completed a partial secondary sale alongside its Series E round, which pushed its valuation to $3.3 billion.
These events demonstrate that patient capital is being rewarded with tangible returns, increasing investor confidence in Middle Eastern scale-ups.
Breaking Geographical Assumptions
The report emphasizes that the map for venture capital is expanding, with 2026 already showing strong momentum in markets like Ukraine, Pakistan, and Nigeria. The entrance of top-tier firms like Andreessen Horowitz (a16z) into Pakistan via stablecoin company Zar, and Tidemark’s entry into Latin America, suggests that the barriers for global firms entering Endeavor markets are rapidly dissolving.
As capital and talent become more mobile, the MENA region is positioning itself as a primary destination for investors seeking high-growth opportunities that are decoupled from the saturated macro trends of the US market.
About Gathern
Gathern is a Saudi-based peer-to-peer vacation rental platform, often described as the “Airbnb of Saudi Arabia.” It was the first platform in the Kingdom to receive a license for the peer-to-peer rental of private homes. By focusing on the unique cultural and logistical needs of the local market, Gathern has scaled rapidly to offer thousands of listings ranging from villas and apartments to traditional desert camps, playing a pivotal role in the diversification of the Saudi tourism and hospitality sector.
Source: Endeavor
