Toss Raises $405 Million at a $7 Billion Valuation

Toss is a mobile finance super app, operated by fintech start-up Viva Republica. Toss platform is used for the payment procedure simplification. It manages credit scores and bank accounts, access loans and insurance plans, offers peer-to-peer money transfers, split bill options, QR payment, and many other services to enable users to manage their finance.

The Series G funding round was led by Tonic Private Equity. Among other participants are Korea Development Bank (KDB), Altos Ventures, Goodwater Capital, Greyhound Capital, Aspex Management, Bond Capital, and DUMAC. The new funding will be used for product investments – digital lending and online payment service for local merchants and individuals, Toss Bank, and a retail investment app, Toss Securities.

Toss, Seoul, South Korea was founded by Seunggun Lee in 2015. In the beginning, as a money-transfer app – Toss. In 2018, the company entered the unicorn club. After that, the offered range was widened with such financing services as P2P lending, insurance, banking, mobile stock trading and investing, and credit scoring. A year ago, Toss launched the buy now pay later service, and as of now it has more than 1 million registered users.

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