Toronto-based startup SELLIT9 has announced the successful completion of a $1.45 million (CAD) pre-seed funding round, led by Drive Capital and Northside Ventures. This oversubscribed raise also included support from family offices, strategic investors, and angel investors. The funds will propel the launch of SELLIT9 Pay, an innovative platform aimed at transforming how consumers trade in household items, empowering brands to enhance customer loyalty, and promoting sustainability in e-commerce.
Transforming Household Clutter into Shopping Power
SELLIT9 is built on a simple yet transformative idea: turning household clutter into digital currency. By offering consumers the ability to trade in items such as electronics for instant shopping credits, SELLIT9 Pay creates a seamless shopping experience. The initiative aligns with growing consumer demand for sustainable solutions and addresses the economic pressures that have altered spending habits.
“This funding enables us to bring SELLIT9 Pay to market and fundamentally reshape how people shop,” said Josh Guttman, Co-Founder and CEO of SELLIT9. “Our vision is to unlock the hidden wealth in items sitting idle in homes and use it to create a more flexible, sustainable, and empowering shopping experience.”
Oswaldo Alvarez, Co-Founder and CTO, added, “The technology behind SELLIT9 Pay eliminates barriers for consumers and retailers alike. We’ve built a platform that makes trading in as simple as checking out.”
SELLIT9’s innovative model integrates seamlessly with e-commerce platforms, allowing consumers to trade in old items for credits that can be applied toward new purchases. “We want SELLIT9 Pay to be as integral to e-commerce as ‘buy now, pay later,’” Guttman emphasized. “Imagine every retailer offering trade-ins as a sustainable payment option. That’s our mission.”
Expanding Opportunities for Growth
The pre-seed funding will focus on several key areas of development:
- Early 2025 Launch of SELLIT9 Pay: The company plans to debut the platform with key design partners.
- Partnership Expansion: SELLIT9 aims to onboard additional retail brands and grow its network of buyer and reseller partners.
- Category Expansion: While the initial focus is on electronics, the platform will broaden to include baby products, sports equipment, and other items with high residual value.
Meeting a Growing Demand for Sustainable Shopping
The global second-hand market is expected to exceed $1.12 trillion by 2030. Rising living costs and a growing emphasis on sustainability have reshaped consumer behaviour, with 72% of shoppers adjusting their habits. SELLIT9 Pay taps into these trends, enabling consumers to maximize purchasing power while reducing waste. For retailers, the platform offers a turnkey solution to drive sales and showcase sustainability initiatives.
“This is about more than just transactions,” Guttman explained. “We’re building a circular economy where consumers and retailers can thrive together.”
Alvarez highlighted the consumer experience, saying, “Trading in should feel as exciting as buying. By simplifying the process and integrating it into checkout, we’re transforming the way people shop.”
Consumer Insights Drive SELLIT9’s Vision
SELLIT9’s founders were inspired by their own experiences. “As a family of five, we constantly outgrow or replace items,” Guttman said. “From strollers to laptops, the challenge has always been how to unlock the value of these things without the hassle. SELLIT9 Pay solves that by making it easy and flexible.”
Alvarez, who has lived in five countries over the past decade, added, “Each move was a struggle. Selling items to start fresh was time-consuming and often wasteful. SELLIT9 Pay eliminates these pain points, allowing people to focus on what matters most.”
The success of their first offering, SELLIT9 Cash, provided validation for their concept. “We processed over 700 devices and garnered nearly 140 five-star reviews,” Alvarez noted. “The feedback reinforced that people aren’t just looking for cash—they want to fund meaningful purchases.”
A Simple, Seamless Process
SELLIT9 offers multiple collection options, making it easy for consumers to trade in items:
- Pickup Services: In select cities, customers can arrange for an Uber-style pickup.
- Drop-Off Locations: Dedicated centres across Toronto, Winnipeg, Montreal, and London, Ontario, allow users to drop off items for immediate payment.
- Prepaid Shipping Labels: For those outside pickup zones, prepaid labels make shipping items as simple as returning an online purchase.
“We’ve designed SELLIT9 Pay to integrate with retailers’ existing systems while providing a seamless experience for customers,” Guttman emphasized.
Launching in Canada and Looking Ahead
While the initial rollout will focus on Canada, the company has ambitious plans for international expansion. “We’re committed to starting here, but the potential is global,” Guttman said. “With sustainability and affordability as priorities, SELLIT9 Pay can revolutionize e-commerce worldwide.”
Alvarez expanded on their vision: “Our goal is to transform the experience of trading in items. Selling old items has always been a hassle, but we want to make it just as exciting as buying something new. By combining both transactions into one seamless process, we’re eliminating barriers and creating something truly revolutionary.”
A New Era for E-Commerce and Sustainability
SELLIT9 is more than a tech startup—it’s a movement toward more conscious, efficient shopping. By enabling consumers to unlock the hidden value in their homes, the platform supports both financial and environmental well-being.
“Our goal is to make trade-ins the norm,” Guttman concluded. “Whether it’s a new laptop or a flight for your family, SELLIT9 Pay empowers you to make it happen in a sustainable way.”
