Viva Republica, developer of Korean financial super app Toss, raises $410M at a $7.4B valuation
Viva Republica, the Seoul-based fintech company behind Toss, a super app with more than 40 financial services, announced today it has raised $410 million at a post-money valuation of $7.4 billion, TechCrunch reports. The new funding was led by Alkeon Capital, an American investment firm, and included participation from new investors like Korea Development Bank, and returning backers Altos Ventures and Greyhound Capital.
The company plans to launch Toss Bank, a neobank, in September 2021, which it describes as “the final key component” of its super app strategy. It will also use the funding to continue its expansion in overseas markets, including Vietnam, where Toss launched last year.