Financial Services App Toss Raises $40M in Funding

Viva Republica, a Seoul, South Korea-based maker of a financial services app called Toss, raised $40m in funding.

The round, led by GIC and Sequoia China, brought the total amount raised to date to $116m.

The company intends to use the funds to accelerate its growth and enhance product development.

Started as a P2P money transfer service in 2015 by SG Lee, CEO, Toss has now expanded into a platform providing a full suite of financial services, allowing users to manage every facet of their daily financial lives. Beyond money transfers, users can now utilize an array of consumer finance services within a single app, including a financial dashboard, credit score management, customized loan/insurance plans, as well as multiple investment services.



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