Mercari operates a mobile-first peer-to-peer marketplace app that makes it easy for individuals to list and sell small consumer goods such as clothing and collectibles. The company integrates payment and logistics — in Japan it partners with Yamato Transport, and in the U.S. it has partnered with USPS, FedEx and uses Braintree for payments. Mercari monetizes in Japan by taking a 10% fee on each sale but has not begun monetizing in the U.S. while it scales. The app has been downloaded about 32 million times overall, including roughly 7 million downloads in the U.S., and reports gross merchandise value above 10 billion JPY (~$88M) per month. Mercari employs a customer service team of about 100 people across Japan, the U.S., and the Philippines and focuses on policing listings to keep merchants from posing as individual sellers. The company faces competition from incumbents such as eBay and Amazon as well as mobile-first marketplaces like Wish and Poshmark. Management plans to use new capital to grow services in Japan, expand in the United States and the European Union, and pursue potential M&A targets. Mercari operates a mobile consumer-to-consumer (C2C) shopping app. The company’s core product is a mobile marketplace app for individuals to buy and sell goods. According to the article, Mercari raised $14 million in funding. Named investors in the round include Global Brain, Globis Capital Partners, Itochu Technology Ventures, and GMO Venture Partners. The financing also included other undisclosed investors. The article does not provide additional operating metrics, valuation, or details on the investment instrument.

Total raised

$88M

Funding rounds

2

Latest round

Series D

Latest activity

Mar 2016