Viva Republica raises $173 million

Viva Republica, the South Korean fintech startup behind mobile finance platform Toss, has raised $173 million in a new round of funding from Aspex Management, Sequoia Capital China, Kleiner Perkins Digital Growth Fund, Altos Ventures, Goodwater Capital, and Greyhound Capital. The Fintech is now valued at $2.6 billion after raising $560 million to date.

Launched in 2015, Toss offers a variety of financial services to over 17 million users by leveraging user engagement data. The mobile app allows users to view all their bank accounts in one place, transfer money, make online payments, manage credit, apply for loans, and get insurance.

In terms of insurance, Toss had 11 partners as of April 2020 and it helps users find the right products via phone consultation. Over the past year, it served more than 80,000 customers.

“We are building a financial super app fundamentally innovating across every facet of consumer finance. We believe that this fundraising has brought us a step closer to reaching our goal and we will continue to dedicate our efforts until we revolutionize all financial activities within everyday lives through Toss.” – SG Lee, cofounder and CEO of Viva Republica.