(The Bridge) – Tokyo-based Mercari, the Japanese startup behind a consumer-to-consumer marketplace app of the same name, announced today that it has fundraised $74 million (8.4 billion yen) 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 $110 million (1.26 billion yen) 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 $88 million (10 billion yen) in deals through the platform. The company claims that the primary purpose of this round is to boost global expansion, especially in the US. In addition, it will use the funds to develop new business at Souzou, a subsidiary of Mercari, as well as strengthen the team for mergers and acquisitions, and invest in other businesses.
Translated by Masaru Ikeda, edited by Kurt Hanson