By Anna J. Park
Viva Republica, the operator of mobile-based financial application Toss, is currently seeking to raise 200 billion won ($177 million) in investments on its corporate valuation of 8 trillion won.
According to the investment banking industry, Bank of America Merrill Lynch recently distributed information about Toss to major investors both inside and outside of Korea.
The mobile fintech company s valuation skyrocketed by more than 2.6 times in just nine months considering the fact that it was valued at around three trillion won last summer, when the firm attracted a total of 206 billion won.
The fast-rising valuation is attributed to market expectations that Toss will grow further to become a financial super app, which includes various financial transaction functions in one application, such as Toss Payments and Toss Securities. Toss Bank, which is expected to be launched later this year as the nation s third internet-only bank following K bank and Kakao Bank, is a
Posted : 2021-05-10 15:33
Updated : 2021-05-10 15:45
Lee Seung-gun, CEO of Viva Republica, the parent company of the popular peer-to-peer money transfer application Toss. Yonhap
By Kim Hyun-bin
Toss, which provides mobile financial services, was successful last year in recording close to 400 billion won in sales and enhancing its profitability margin. However, the company is aiming higher for this year with the goal of exceeding 1 trillion won in total sales.
Viva Republica is the parent company of the popular peer-to-peer money transfer application Toss.
Last week, Toss released last year s earnings which showed a 230 percent increase in sales compared to the previous year s 389.8 billion won.