Soum operates a re-commerce marketplace that manages the full transaction flow from listing to delivery, using third-party logistics and holding payments until buyers confirm receipt to reduce fraud. Sellers submit images for pre-approval; deliveries typically take three to four days and buyers have 24 hours to initiate returns (Soum plans to extend return windows for some products). The platform’s top listings are electronics—iPhones and laptops—and it receives more than 30,000 listings every month. Soum charges a commission on each sale that ranges between 10% and 20%, with the percentage varying by product value and seller frequency. The company is expanding its category mix to include automobiles and collectibles and is beginning geographic expansion into the United Arab Emirates as part of a broader MENA push. Soum raised an $18 million Series A to fund growth and category/geographic expansion.

Total raised

$18M

Funding rounds

1

Latest round

Series A

Latest activity

Dec 2023