South Korean digital lender and neobank Toss Bank completed a $153 million funding round in March 2023 and is about to raise another $154 million (200 billion won) at a $2.1 billion (2.7 trillion won) valuation, people familiar with the matter said. ) equity. In addition, the company has plans to raise another US$150 million by the end of the year. Toss Bank has raised more than $1.2 billion since its inception in 2021.
The new $154 million financing is expected to close by the end of the third quarter of this year, around September, according to the sources. The bank benefits from a partnership with Viva Republica, which has around 26 million users and 15 million monthly active users. Viva Republica offers a range of financial services such as banking, money transfers, mobile-based stock trading, credit scoring, P2P lending, and more.
