South Korean Financial Super App Toss Closes $405M Series G, Sees Valuation Up 7%
30.Dec.2022Viva Republica, the operator of South Korean financial super-app Toss, has raised $405 million in Series G funding, raising $9.1 trillion from the $8.5 trillion raised $410 in June 2021 (KRW 7 billion). dollar) is reported to have risen. With a valuation of $7.4 billion (8.5 trillion won), he raised $1 million in pre-series G funding. (The Korean currency has fallen against the dollar this year.)
The company's recent funding has caught our attention, among other things, as it shows the company is holding up relatively well amid a bleak macroeconomic outlook. Viva Republica has increased its valuation once again, in contrast to global fintech companies such as Klarna, Stripe and Checkout.com, whose valuations have fallen significantly in 2022.
Viva Republica was also enthusiastic about hiring him in October. This is in stark contrast to many global tech companies, including fintech startups, which have cut jobs significantly this year. The Seoul-based company has about 1,900 employees as of August. Fintech-focused investor Tonic Private Equity led Series G round alongside repeat investors including Korea Development Bank (KDB), Altos Ventures, Goodwater Capital, Greyhound Capital, Aspex Management, Bond Capital and DUMAC . Korea Investment & Securities also participated in the recent fundraising. The fintech will make series G deals worth about $226 million (295.8 billion won) and $175.8 million (229.3 billion won) respectively in the third quarter of 2022. said it had completed the closing of a new loan. November.
