Total amount raised
¥119.6 Billion
Latest funding date
7/1/2021
Location
Mercari has successfully navigated 10 funding rounds, attracting investments from notable backers such as Japan Post Capital and Yamato Transport. The platform specializes in facilitating the buying and selling of used and secondhand items, offering users great deals on a wide variety of products.
Keep reading to explore the intricacies of Mercari's fundraising journey and the investors backing this innovative platform.
What Is Mercari?
Mercari is a public company based in Tokyo, Japan, operating in the E-Commerce, Internet, Marketplace, and Mobile industries. The platform specializes in providing a community shopping app for buying and selling used and secondhand items.
With an employee count ranging from 101 to 250, Mercari has raised funding over 10 rounds and made 13 investments. The company is registered under the stock symbol TYO:4385.
How Much Funding Has Mercari Raised?
- Pre-Seed Round
- Amount Raised: JPY 10,000,000 (approx. USD 100,000)
- Date: March 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and launch the business.
- Seed Round
- Amount Raised: JPY 50,000,000 (approx. USD 500,000)
- Date: July 2013
- Lead Investors: East Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Series A
- Amount Raised: JPY 300,000,000 (approx. USD 3,000,000)
- Date: August 2013
- Lead Investors: UNITED
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance platform features.
- Series B
- Amount Raised: JPY 1,450,000,000 (approx. USD 14,500,000)
- Date: March 2014
- Lead Investors: Global Brain Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand to the US market.
- Series C
- Amount Raised: JPY 2,360,000,000 (approx. USD 23,600,000)
- Date: October 2014
- Lead Investors: Global Brain Corporation, World Innovation Lab
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform and enhance technological capabilities.
- Series D
- Amount Raised: JPY 8,400,000,000 (approx. USD 74,000,000)
- Date: March 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost global expansion, especially in the US, and develop new business ventures.
- Series Unknown
- Amount Raised: JPY 5,000,000,000 (approx. USD 50,000,000)
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance market presence.
- IPO
- Amount Raised: JPY 52,026,000,000 (gross paid-in amount to the company for 18,159,500 new shares at the JPY 2,865 underwriting price, before the July 2018 issue of 2,840,500 new shares to Daiwa Securities under the over-allotment arrangement; shares sold by existing holders are not counted)
- Date: June 2018
- Lead Investors: Not applicable (initial public offering)
- Valuation at Round: JPY 406 billion at the JPY 3,000 IPO price
- Post-IPO Debt (zero-coupon euro-yen convertible bonds due 2026)
- Amount Raised: JPY 25,000,000,000 (total issue amount; issued at 100.0% of face value, offered at 102.5%)
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in growing existing businesses and new business opportunities and to strengthen the financial base, including early repayment of borrowings.
- Post-IPO Debt (zero-coupon euro-yen convertible bonds due 2028)
- Amount Raised: JPY 25,000,000,000 (total issue amount; issued at 100.0% of face value, offered at 102.5%)
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in growing existing businesses and new business opportunities and to strengthen the financial base, including early repayment of borrowings.
Total Amount Raised: JPY 119.6 billion. Valuation: JPY 406 billion (June 2018 IPO).
Key Investors
- Japan Post Capital
- Details: Japan Post Capital is the investment arm of Japan Post Holdings, focusing on strategic investments to enhance its portfolio. It aims to support innovative companies and foster growth in various sectors.
- Investment Focus Areas: Technology, logistics, financial services.
- Notable Investments: Not publicly disclosed.
- Yamato Transport
- Details: Yamato Transport is a leading logistics and delivery service company in Japan, known for its extensive network and reliable services. It is part of the Yamato Group, which operates in various logistics-related sectors.
- Investment Focus Areas: Logistics, transportation, e-commerce.
- Notable Investments: Not publicly disclosed.
- Global Brain Corporation
- Details: Global Brain Corporation is a venture capital firm that provides funding and strategic support to startups. It focuses on fostering innovation and helping companies scale globally.
- Investment Focus Areas: Technology, innovation, startups.
- Notable Investments: Not publicly disclosed.
- World Innovation Lab (WiL)
- Details: World Innovation Lab (WiL) is a venture capital firm that invests in technology startups and helps them expand globally. It aims to bridge the gap between Silicon Valley and Japan.
- Investment Focus Areas: Technology, global expansion, startups.
- Notable Investments: Not publicly disclosed.
- UNITED
- Details: UNITED is a venture capital firm that invests in early-stage startups, providing them with the necessary resources and support to grow. It focuses on innovative and high-potential companies.
- Investment Focus Areas: Early-stage startups, innovation, technology.
- Notable Investments: Not publicly disclosed.
What's Next for Mercari?
Mercari's future looks promising with significant opportunities for global expansion, particularly in the US market. The company aims to develop new business ventures through its subsidiary, Souzou, and strengthen its team for potential mergers and acquisitions. With over 25 million downloads in Japan and 7 million in the US, the platform has transacted more than 10 billion yen in deals, highlighting its growth potential.
To support these ambitious goals, Mercari may pursue additional fundraising rounds. The increasing popularity of C2C marketplace apps and the expansion of Japanese tech companies into international markets provide a favorable backdrop for Mercari's growth. However, the company will need to navigate challenges such as competition in the C2C sector, scaling operations in the US, and managing new business ventures and acquisitions.
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