Ruit raises €880,000 pre-seed led by Abac Nest for second-hand resale software

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Ruit, a Spanish company building software for professional second-hand sellers, has closed an €880,000 pre-seed round led by Abac Nest. Angels Capital, the investment firm of Juan Roig, joined in, along with Decelera, SuccessfulVC and strategic business angels. ENISA added a participative loan, which does not dilute anyone, a rare quality in a funding round.

Ruit does not sell used goods itself. It sells the tools for the people who do: sourcing, inventory, listing on several channels at once, dynamic pricing, messaging, orders, accounting and analytics, all in one place. The pitch is that a professional reseller working across several marketplaces currently lives in spreadsheets and duplicate listings, which is one way to run a business. Founder and CEO Luis Grau said recommerce must become "as simple and reliable as buying a new product" to win over consumers.

The money will go to hiring, product development and sales, with the plan to consolidate in Spain first and expand internationally from there. Ruit went through the Lanzadera accelerator and Decelera Menorca. Abac Nest is the venture arm of Abac Capital, which manages more than €800 million.