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A $7 Billion Fintech Super App Eyes 12-Fold Growth, IPO by 2025

  • South Korea’s Toss raises $410 million at $7.4 billion value
  • Toss is considering a pre-IPO funding round within 1H 2022
Updated on

Viva Republica Inc., operator of South Korea’s largest fintech startup Toss, raised more than $400 million at a $7.4 billion value, to help the super app grow sales 12-fold by 2025 as it heads for a potential initial public offering.

The Seoul-based startup raised $410 million, with more than half coming from foreign investors including Alkeon Capital Management and Altos Ventures, founder and Chief Executive Officer Lee Seung-gun said in an interview. State-run Korea Development Bank pumped 100 billion won into the round. It’s considering another fundraising in the first half of 2022 that will be its largest ever and the last before the startup seeks an IPO within the next five years.