Toss Surpasses 8.2 Trillion Won in Corporate Value... "Beyond Unicorn, Decacorn in Sight"

[Asia Economy Reporter Kiho Sung] The corporate value of Viva Republica (hereinafter Toss), the operator of the mobile financial platform Toss app, has exceeded 8.2 trillion KRW.

On the 23rd, Toss announced that it had completed a new investment round worth 460 billion KRW, bringing the investor valuation to 8.2 trillion KRW (7.4 billion USD). Since becoming Korea's first fintech unicorn company with a corporate value of 1 billion USD (1.2 trillion KRW) in 2018, Toss is now on the verge of reaching the 'decacorn' status, which means a corporate value of 10 billion USD (12 trillion KRW), just three years later.

In particular, Toss's corporate value nearly tripled in just 10 months after last year's investment round. This round included major investors such as the state-run KDB Industrial Bank and the US investment firm Alkeon, which invested approximately 100 billion KRW and 84 billion KRW respectively. Existing investors like Altos Ventures and Greyhound also participated.

A Toss representative stated, "Investors were highly attracted to Toss as a unique mobile financial platform that offers personal financial services such as banking and securities in a single app based on 20 million users, as well as B2B services for businesses through Toss Payments, a top-tier PG industry affiliate. Fintech companies with such diverse business portfolios across all financial sectors like Toss are rare worldwide," explaining the appeal.

Toss views its 'super app' strategy, which provides all financial services in one app, as its core competitive advantage. Its affiliate, Toss Securities, offers stock trading services within the Toss app without requiring a separate app installation, and since its full launch in March, it has attracted 3.5 million cumulative accounts in just three months, showing record growth.

Lee Seung-geon, CEO of Toss, emphasized, "Korea ranks among the top globally in financialization per household in banking, cards, and insurance, and the digital transformation of finance has accelerated rapidly since COVID-19, creating huge growth opportunities for mobile financial platforms. By directly entering key areas such as banking and securities, Toss can completely redesign financial services and products from the customer's perspective."

Toss recorded approximately 390 billion KRW in sales in the last fiscal year and expects to surpass 1 trillion KRW in consolidated sales this year with the full-scale growth of its affiliates.