Soum
Soum is a Riyadh-based mobile C2C re-commerce marketplace that lets Saudi Arabian consumers buy and sell secondhand electronics, with planned expansion into collectibles and automobiles across the MENA region, generating revenue through transaction fees.
- Company typePrivate
- Founded2022
- HeadquartersRiyadh, Saudi Arabia
- Headcount101–250
- GTM typeB2C
- OfferingDigital Commerce or Content
What Soum does
Soum is a Riyadh-headquartered, mobile-first C2C re-commerce marketplace that enables individual consumers in Saudi Arabia to buy and sell secondhand products, with consumer electronics as the founding vertical and collectibles and pre-owned automobiles identified as expansion categories. The platform is distributed through iOS and Android applications and has accumulated over 4 million downloads, with the company reporting 40x platform growth since its March 2022 seed round. Soum addresses trust and verification gaps inherent in peer-to-peer secondhand transactions, positioning its value proposition around reliable pricing, condition assessment, and secure settlement.
The technology stack centers on a unified marketplace platform augmented by an AI-powered consignment model that the company credits with a 175% week-over-week rise in contribution margin (CM2) and improved seller satisfaction, signaling applied use of machine learning in workflow automation rather than as a foundational product layer. No proprietary models, research publications, patents, or third-party benchmarks are disclosed, and the AI capability is classified as process automation supporting the consignment flow. Distribution is product-led through mobile app stores, with no documented paid marketing channels in the available source material.
Soum generates revenue via transaction fees and commissions on completed C2C sales, a model that scales with distributed volume rather than any single anchor customer. The company has raised $4 million in seed funding (March 2022, Outliers Venture Capital and Mazen Aljubeir) and $18 million in Series A (December 2023, led by Jahez with Isometry Capital, Khwarizmi Ventures, AlRajhi Partners, and Outliers Venture Capital), for a total of $22 million. Operating geographies are anchored in Saudi Arabia with stated expansion intent across the broader $40 billion MENA secondhand market.
Soum firmographics
Firmographics- Name
- Soum
- Legal name
- Soum
- Website
- https://info.soum.sa
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Soum is a Riyadh-based mobile C2C re-commerce marketplace that lets Saudi Arabian consumers buy and sell secondhand electronics, with planned expansion into collectibles and automobiles across the MENA region, generating revenue through transaction fees.
- Ownership category
- akta.pro rank
Soum industry classification
Industry- Product category
- Online Secondhand Marketplace
- NAICS
- Used Merchandise Retailers (459510), Electronics and Appliance Retailers (44921)
- akta.pro primary industry
- Peer-to-Peer (C2C) Resale Marketplaces (CRAFAGAM)
- akta.pro secondary industries
- Electronics & Gadgets C2C Resale (CRAFAKAC), C2C Resale, Auctions & Secondhand Marketplaces (BPAMAGAE)
Keywords
Where Soum is headquartered
LocationHeadquarters
- HQ city
- Riyadh
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices1 record
Markets served
Soum business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Technology or R&D, Marketing or Sales, Operations, Personnel
Revenue model
- Marketplace Commission/Transaction Fees: Soum operates as a C2C marketplace for secondhand products, generating revenue through transaction fees on sales between buyers and sellers. The company handles consignment of used electronics and other items.
Go-to-market motion1 record
Distribution channels1 record
Soum product offering
Product offeringCore offering
Soum operates a mobile-first consumer-to-consumer (C2C) marketplace where individuals can buy and sell secondhand products, initially focused on used consumer electronics such as smartphones and laptops. The platform leverages an AI-powered consignment model to verify, price, and handle transactions on behalf of sellers, with plans to expand into higher-value categories including collectibles and automobiles across the MENA region.
Product overview
Soum operates as a single unified C2C marketplace platform for secondhand products. The platform facilitates peer-to-peer transactions for used electronics and plans to expand into additional high-value categories including collectibles and automobiles. The company employs an AI-powered consignment model to support sellers and drive profitability.
Differentiator
Problem solved
Functional benefit
Products and services
- Soum Marketplace A mobile-first C2C re-commerce marketplace platform that enables individual consumers in the MENA region to buy and sell secondhand products, starting with consumer electronics such as smartphones and laptops, with planned expansion into collectibles and pre-owned automobiles. The platform uses an AI-powered consignment model that handles verification, pricing, and transaction processing on behalf of sellers.
Quantifiable outcome
- 175% rise in contribution margin (CM2) in one week through AI-powered consignment
- +2 more outcomes
Companies that use Soum
Customer profileSegments3 records
Ideal customer profiles2 records
Soum technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature1 record
Soum partnerships and signals
Strategic signalScale indicators6 records
Recent moves5 records
Expansion highlights5 records
Soum competitors and assessment
Company assessmentBroad incumbents
- OLX: OLX operates one of the largest global C2C classifieds platforms with a strong presence across MENA, including Saudi Arabia and the UAE. It is comparable to Soum as the dominant incumbent marketplace serving the same secondhand consumer electronics use case in the same geography.
- Facebook Marketplace: Facebook Marketplace is a global broad C2C listings feature embedded in the world's largest social network. It is comparable to Soum as a competing C2C channel in the MENA region where users can already buy and sell secondhand goods without leaving Meta's ecosystem.
Direct peers
- Dubizzle: Dubizzle is a leading MENA-based C2C classifieds platform focused on used goods including electronics, automobiles, and other categories. It is comparable to Soum as a directly competing C2C marketplace serving very similar consumer use cases in the same regional footprint.
- Wallapop: Wallapop is a Spain-based mobile-first C2C marketplace for secondhand goods with strong traction. It is comparable to Soum as a product-led growth C2C marketplace focused on trust, mobile UX, and vertical expansion into higher-value categories.
- Mercari: Mercari operates a leading C2C marketplace in the US and Japan for secondhand goods including electronics. It is comparable to Soum in business model (peer-to-peer resale with transaction fees) and in evolving from horizontal listings toward vertical depth and trust mechanisms.
- Depop: Depop is a mobile-first C2C marketplace focused on secondhand goods with strong product-led growth among younger consumers. It is comparable to Soum as a mobile-native resale marketplace leveraging trust and curation as differentiators in peer-to-peer transactions.
Regional players
- OpenSooq: OpenSooq is a C2C classifieds platform widely used across the Arab world for buying and selling used goods, including electronics. It is comparable to Soum as a regionally focused C2C marketplace with overlapping electronics and general-merchandise categories.
Emerging players
- CarSwitch: CarSwitch is a MENA-based pre-owned automobile marketplace offering inspection and trust services for used car transactions. It is comparable to Soum as a regional MENA marketplace addressing trust in high-value secondhand transactions — directly relevant to Soum's stated expansion into automobiles.
- Reebelo: Reebelo is a recommerce marketplace operating in Southeast Asia for refurbished electronics and other secondhand goods. It is comparable to Soum as an emerging regional recommerce player with vertical emphasis on trust, refurbishment, and circular-economy positioning.
Others
- Noon: Noon is a leading MENA e-commerce platform covering electronics, fashion, and other categories. It is comparable to Soum as a regionally dominant consumer internet platform in Saudi Arabia/UAE that could expand into resale or partner with Soum as a distribution or returns channel.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Soum social profiles
Digital presenceSoum financial estimates
Financial estimateRevenue estimate
Valuation estimate
Soum leadership team
Management profileNumber of profiles
Profiles1 record
Soum funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Soum M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Soum
What does Soum do?
Soum operates a mobile-first consumer-to-consumer (C2C) marketplace where individuals can buy and sell secondhand products, initially focused on used consumer electronics such as smartphones and laptops. The platform leverages an AI-powered consignment model to verify, price, and handle transactions on behalf of sellers, with plans to expand into higher-value categories including collectibles and automobiles across the MENA region.
Is Soum a public or private company?
Soum is a private company. It is classified as venture growth investor backed and is currently operating.
When was Soum founded?
Soum was founded in 2022. It employs 101 to 250 people.
Where is Soum based?
Soum is headquartered in Riyadh, Saudi Arabia, in the Middle East region.
How does Soum make money?
One revenue line is on record: marketplace Commission/Transaction Fees.
Who are Soum's main competitors?
Broad incumbents on record are OLX and Facebook Marketplace. Direct peers are Dubizzle, Wallapop, Mercari and Depop. OpenSooq is listed as a regional player. Emerging players are CarSwitch and Reebelo. Noon is listed as an others.
Does Soum have an API?
No public API is recorded for Soum.
What industry is Soum in?
Soum's product category is Online Secondhand Marketplace. Its primary akta.pro industry code is CRAFAGAM, Peer-to-Peer (C2C) Resale Marketplaces, with a secondary code of CRAFAKAC, Electronics & Gadgets C2C Resale. Its NAICS code is 459510.