Toss operator raises $40 million from global investors

Home > Business > Finance

print dictionary print

Toss operator raises $40 million from global investors

Viva Republica, the start-up that operates the money transfer app Toss, has raised $40 million from the Singapore sovereign wealth fund GIC and a Chinese venture investor.

This is the first time that a Korean start-up has attracted investment from GIC and Sequoia China.

The three-year-old fintech firm received a combined 130 billion won ($117.7 million) in funding from global investors, including Paypal.

Toss is a simple cash transfer app that lets users “toss” money to others if senders have the recipient’s phone number and both users have the app downloaded.

The app also helps users manage their credit ratings as well as financial responsibilities such as loans.

It currently has eight million accumulated users, and cash transferred monthly averages 1.5 trillion won.


By Seo Ji-eun

More in Finance

Banks failed to tell borrowers they can demand rate cuts: FSS report

Stocks fall more than 1% as profit-taking continues

Profit-taking ends four-session winning streak for Kospi

Lottery sales hit record in the first half

Another recent high

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now