Riyadh - Sharikat Mubasher: Soum, the Riyadh-headquartered marketplace for secondhand products, has achieved sales worth more than SAR 300 million since its launch three years ago, with a compound annual growth rate (CAGR) of 100%, Co-founder and CEO Bader Almubarak revealed.

Soum plans to tap into new markets, including automotive, to enhance its services and expand market reach, Almubarak stated in an interview with Alarabiya Business.

He revealed that the ‘Fulfilled-by-Soum’ service, launched in 2024, increased customers’ trust in the platform and enhanced their experience. With this service, Soum inspects products to ensure they meet its quality standards before shipping them to buyers, offering a one-year warranty on products sold through the site and a ten-day returns policy during the year.

It is worth mentioning that Soum secured SAR 67.5 million in a series A funding round in 2023 to boost its expansion regionally and broaden its services.