Strategic Partnership Between Soum and Arib to Drive Seamless Transactions

To support Saudi Arabia’s Vision 2030 and strengthen the Kingdom’s digital economy, Soum, the leading second-hand marketplace, has announced a strategic partnership with Arib, a fintech company specializing in financial assessments and solutions. The agreement was officially signed during Money 20/20 Middle East.

This collaboration enables Soum to leverage Arib’s fintech solutions to empower customers with seamless and secure transactions. The partnership underscores both companies’ commitment to building a robust digital ecosystem that aligns with the Kingdom’s goals for innovation, sustainability, and economic diversification.

Soum has firmly established itself as the go-to brand for electronics and cars in MENA. The market is projected to grow to $10 billion in sales in KSA and $30 billion across the GCC, reflecting rising demand and growing consumer confidence in used devices and autos. With Arib’s expertise in fintech solutions, this partnership will help improve transparency, accessibility, and financial processes within the sector.

The signing ceremony was attended by Bader Almubarak, Co-Founder and CEO of Soum, and Waleed Talat, Founder, CEO, and Board Member at Arib.

The collaboration underscores Soum’s role as a partner in the Kingdom’s digital transformation journey, supporting efforts to strengthen the second-hand economy while reaffirming Saudi Arabia’s leadership in sustainability and innovation across the region.