Viva Republica, the Seoul, Korea-based company behind P2P money transfer app Toss, closed a $48m Series C funding.
The round was led by Goodwater Capital with participation from PayPal Holdings, Inc.(Nasdaq: PYPL), Bessemer Venture Partners, Altos Ventures, and Partech Ventures.
The round brought the company’s total funding to approximately USD $76m.
Founded in 2013 by SG Lee, Viva Republica operates Toss, an Android or iOS app that gives consumers access to funds and the ability to pay bills instantly. The company also facilitates microloans while providing real-time insight into all of their bank accounts.
As of today, Toss has 6 million app downloads, transferred over USD $3 billion, and partnered with 18 of Korea’s 19 major banks.