Viva Republica, operator of Toss, attracts USD 173 million
By Edil Corneille
Seoul-based Viva Republica, which operates mobile financial service Toss, today announced that it has attracted an investment of USD 173 million (about KRW 26 billion). Existing investors participating were Aspex Management, Sequoia China, Kleiner Perkins, Altos Ventures, Goodwater Capital, Greyhound Capital, etc.
This is said to be the largest single investment made after the establishment of the company, and Toss has been recognised for its corporate value of about USD 2.6 billion through this investment, and the total accumulated investment attraction amounted to about over USD 53 million.
The investment comes at a time where the global investment market has contracted significantly due to COVID-19. In particular, through this investment, the company stated that it has stepped closer to its goal of meeting all financial needs, and based on more than 40 financial services provided by Toss, the company has initiated the business of each financial affiliate to achieve more integrated and complete finances.
By completing the acquisition of LG Uplus’ PG division, ‘Toss Payments’ secured 80,000 franchisees that account for 20 percent of domestic PG transactions. It plans to preempt the position. Other plans include as follows:
- Provision of differentiated mobile investment services for millennials through a mobile securities company that plans to launch within this year to be.
- Internet banks, which obtained preliminary authorisation at the end of last year, are scheduled to be launched next year.
- Provision of inclusive financial services that can enjoy the benefits of one financial sector to the existing financial underprivileged through genuine mid-interest rate products.
- Insurance subsidiary ‘Toss Insurance’ is bringing new consultation attempts focusing on customer satisfaction.
Toss has grown to be a financial service currently used by 10 million monthly users through the growth of monthly active users (MAU) by about four times over the past three years. As the business expands, the scale of the company has also greatly expanded, and about 600 employees, including affiliates, are currently working, and the aggressive recruitment trend is continuing with the goal of hiring more than 500 additional employees by the end of the year, as mentioned by the company.
Seung-Geon Lee, CEO of Toss said, “The Toss team is creating a ‘Financial Super App’ that will create fundamental innovations in all aspects of finance. “I think that this dream has been reached a step further through this investment attraction, and I will continue to devote myself to changing all my daily financial life through toss.”
Since it started as a simple remittance service that does not require an accredited certificate in February 2015, Toss has exceeded 49 million cumulative downloads and 17 million cumulative subscribers as of August.
IBSi FinTech Journal

- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More