Calo’s Moayed Almoayed Backs Saudi Vacation Rental Giant Gathern with $12M Investment
supriyatunk
Moayed Almoayed, co-founder of Calo, has made a significant move in Saudi Arabia’s booming hospitality sector by backing vacation rental giant Gathern. Through his investment firm, Pinnacle Capital, Almoayed has invested $12 million in Gathern’s $72 million Series B funding round, which was led by Sanabil Investments.
Founded in 2016 by Latifah Altamimi, Gathern has rapidly grown into one of the most prominent startups in the Middle East. With the latest funding, the company has achieved a valuation of over $266 million, making it the highest-valued woman-led startup in the region. This milestone is a testament to Altamimi’s vision and leadership, which have been widely recognized across the startup ecosystem.
Almoayed praised Altamimi’s “relentless focus on customer experience” and expressed confidence in Gathern’s role in shaping the future of Saudi Arabia’s alternative hospitality industry. The platform has become a key player in providing unique and flexible rental experiences, aligning perfectly with Saudi Arabia’s Vision 2030 tourism and diversification goals.
At the same time, Almoayed’s own venture, Calo, is scaling at a rapid pace. The food-tech startup recently expanded internationally by acquiring UK-based brands Fresh Fitness Food and Detox Kitchen. With ambitious growth plans ahead, Calo is also eyeing a potential Saudi IPO, further cementing its presence as a leading player in the health and wellness space.
The dual success of Gathern and Calo highlights the momentum of Middle Eastern startups, driven by visionary founders and investors who are reshaping industries and redefining market potential across the region.
