Soum is a technology company.
Soum has raised $22.0M across 2 funding rounds.
Soum has raised $22.0M in total across 2 funding rounds.
Soum has raised $22.0M in total across 2 funding rounds.
Soum's investors include E62 Ventures, Outliers Capital.
Soum is a Saudi-based e-commerce company founded in 2021 that operates a trusted marketplace for buying and selling used products, starting with electronics and expanding into automotive and collectibles.[1][2] It serves consumers in the MENA region, particularly Saudi Arabia, by solving pain points in the re-commerce space through competitive pricing, doorstep delivery, product guarantees, same-day delivery in major cities like Riyadh and Jeddah, a one-year warranty on secondhand devices, 100% money-back guarantees, 24/7 support, and flexible payments including installments.[1][2] With over 500,000 monthly active customers, 6 million app downloads, 200,000+ products sold across 150+ locations, and 10,000 active listings, Soum has achieved strong growth momentum, raising $22 million from investors like Jahez Group, Isometry Capital, and Al Rajhi Partners, including an $18 million round for MENA expansion starting with the UAE.[1][3]
Soum was founded in 2021 in Riyadh, Saudi Arabia, as a used-electronics marketplace amid rising demand for affordable, pre-owned goods in the Kingdom.[1][2][3] The founders leveraged early traction in second-hand electronics to become market leaders in KSA within two years, facilitating hundreds of thousands of transactions and earning the spot as the 10th most downloaded e-commerce app in 2023 with over 5 million downloads.[2] Pivotal moments include expanding into used cars and collectibles earlier in 2025, introducing a one-year warranty, and securing $22 million in funding, with a major $18 million round highlighted for regional scaling.[1][3] This evolution reflects a mission to build a convenient, trust-based online marketplace starting in MENA.[2]
(Note: A separate entity, SoumTech at soum.tech, digitizes auctions for real estate and assets in Saudi Arabia, but search results distinguish it from the primary Soum re-commerce platform.[4])
Soum rides the global re-commerce wave, where consumers opt for pre-owned goods to cut costs and embrace sustainable consumption, with the market poised for rapid growth in MENA.[3] Timing aligns with Saudi Arabia's e-commerce boom, digitalization push via Vision 2030, and rising smartphone penetration, enabling Soum's leadership in KSA used electronics before vertical expansions.[1][2] Favorable forces include regional investor interest, as seen in its $22M funding, and competition from players like Sylndr in used cars, positioning Soum to capture C2C transactions across 150+ locations.[1][2][3] It influences the ecosystem by normalizing trusted secondhand markets, boosting app adoption, and paving the way for re-commerce scaling in underserved MENA areas.
Soum's trajectory points to aggressive MENA expansion, starting with UAE via its $18M raise, potentially deepening into more categories like real estate auctions if synergies emerge with platforms like SoumTech.[1][3][4] Trends like conscious consumption, e-commerce penetration in GCC, and financing innovations will propel growth, with app downloads and user base likely surging past current highs. Its influence could evolve from KSA leader to regional re-commerce powerhouse, redefining used goods access—echoing its founding mission to make buying and selling "anything online with convenience, trust, and ease."[2]
Soum has raised $22.0M across 2 funding rounds. Most recently, it raised $18.0M Series A in December 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2023 | $18.0M Series A | E62 Ventures, Outliers Capital | |
| Mar 1, 2022 | $4.0M Seed | E62 Ventures, Outliers Capital |