Viva Republica, which runs Toss, a mobile financial service, said Tuesday that it has raised $64 million. Existing investment companies such as Hong Kong Aspex Management and Kleiner Perkins re-joined the investment.
Toss explained that has an enterprise value of $2.2 billion and that the accumulated investment attracted 300 billion won. The company plans to use the fund for further expansion, it stated.
Aspex, which led the investment, is an investor established in 2018. It is investing in promising Asian companies based in Hong Kong. Toss is the first non-listed company by Aspex.
In particular, current investors such as Kleiner Perkins, Altos Ventures, Goodwater Capital, GIC, Sequoia China, and Bessemer Venture Partners participated in this investment.
Read More: Asiana Airlines Cuts Down Routes to Japan
A brief on Viva Republica app, Toss
Started in February 2015, Toss has grown into a financial services platform. It allows users to manage their entire financial life more easily and simply.
Customers can easily and conveniently use not only simple remittance but also a wide range of financial services. Ranging from banking, installment and loan services to various investment services. Such as account, card, credit and insurance, as well as a variety of financial services.
As of July, Toss had 30 million cumulative downloads and 13 million cumulative subscribers. Cumulative amount of money transferred since its release amounts to $43 billion.
“We are truly pleased that Toss has gained further momentum to embark upon the next phase of its journey. Our mission is to provide the best possible financial service experience to users, and we will continue to do our best for Toss to become the only service needed for users’ safe and easy day-to-day financial lives,” said SG Lee, CEO of Viva Republica.
December last year, the company raised $80 million. The investment put the company in $1.2 billion. Gaining itself the prestigious title of a unicorn company. At the same time being the country’s first fintech unicorn.
The title of the biggest unicorns itself is still at the hand of LINE, Kakao and Naver Corp.
Read More: LINE Launches New Features in SEA Countries