Toss Secures 200 Billion KRW in New Investment... Largest Ever Raised

Lee Seung-geon, CEO of Toss, Accelerates Vision of 'Super App for Finance'

[Asia Economy Reporter Minyoung Kim] Viva Republica, the operator of the mobile financial service Toss, has secured an investment of 200 billion KRW, the largest single investment since the company's establishment.

Viva Republica announced on the 28th that it raised $173 million (approximately 206 billion KRW) from major existing investors. This is the largest single investment since the company's founding. Through this investment, Toss was valued at about 3.1 trillion KRW. The total cumulative investment raised now amounts to approximately 630 billion KRW.

The participating existing investors include Aspex Management, Sequoia China, Kleiner Perkins, Altos Ventures, Goodwater Capital, and Greyhound Capital. The company explained that this investment is significant as it was secured amid a global investment market that has been severely contracted due to the COVID-19 pandemic.

With this investment, Viva Republica has taken a step closer to its goal of fulfilling all financial needs, and plans to accelerate the business of each financial affiliate based on the more than 40 financial services provided by Toss, offering more integrated and complete financial services.

Lee Seung-geon, CEO of Toss, stated, “The Toss team is creating a ‘super financial application’ that will bring fundamental innovation to every aspect of finance,” and added, “We will continue to strive until all everyday financial activities are transformed through Toss.”

This content was produced with the assistance of AI translation services.