General marketplace Mercari is poised to incorporate a subsidiary in India to bolster its tech team through local hiring.
The company has announced its decision to set up the tentatively-named Mercari India Private Limited, also called ‘India Center of Excellence’, in Bengaluru, a hub for India’s tech industry.
With its main business activities focused on developing internet services, the office is scheduled to open around June this year.
India will be the third country after Japan and the U.S. where Mercari has a physical presence. Opening the new center will allow the marketplace to closely engage with diverse technical specialists on the ground.
Non-Japanese engineers compose half of Mercari’s engineering workforce, including 29 graduates hired from India in 2018 who work at the marketplace’s headquarters in Tokyo.
Mercari launched in 2013 and entered the U.S. in 2014. Besides its marketplace, the company, listed on the Tokyo Stock Exchange, also runs mobile payment service Merpay, e-commerce site Mercari Shops, cryptoasset business Mercoin, Inc. and logistics service Merlogi.
In the nine months up to March, Mercari reached 75% of its projected annual revenue of Y147 billion ($114.6 million U.S.).