South Korean tech firm behind super-app Toss raises $405m Series G funding
Viva Republica, the South Korean technology firm behind financial super-app Toss, has secured a $405 million Series G funding round valuing the company at $7 billion, TechCrunch reports.
Toss raises $405m Series G
Tonic Private Equity led the Series G round along with existing investors including Korea Development Bank (KDB), Altos Ventures, Goodwater Capital, Greyhound Capital, Aspex Management, Bond Capital and Dumac.
In June 2021, Viva Republica raised $410 million at a valuation of $7.4 billion – nearly three times the valuation it achieved after its previous cash injection in August 2020.
Founded by CEO Seung-gun Lee, the company’s super-app offers services including banking, P2P lending, stock trading and investing and insurance.
According to TechCrunch, Viva Republica claims Toss has 24 million registered users, giving the firm the largest market share in South Korea in terms of monthly active users.
