Japan’s C2C marketplace app Mercari secures $74 million series D round

Japan’s C2C marketplace app Mercari secures $74 million series D round

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This is the abridged version from our original article in Japanese.

Tokyo-based Mercari, the Japanese startup behind C2C (consumer-to-consumer) marketplace app under the same name, announced today that it has fundraised 8.4 billion yen ($74 million) in a series D round. Participating investors include Globis Capital Partners, World Innovation Lab (WiL), Global Brain, Mercari’s board members, Mitsui & Co., Development Bank of Japan, and Japan Co-invest Limited Partnership. With the latest funding, the company has fundraised a total of 1.26 billion yen ($110 million) since its launch in February 2013.

Coinciding with this announcement, the company disclosed that the app has surpassed 25 million downloads in Japan and 7 million downloads in the US, and has transacted more than 10 billion yen ($88 million) in deals through the platform. They claim that the primary purpose of this round is to boost global expansion, especially in the US. In addition, they will use the funds to develop new business at Souzou, a subsidiary of Mercari, as well as strengthening the team for mergers and acquisitions, and investing in other businesses.

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Translated by Masaru Ikeda
Edited by Kurt Hanson