• Toss, Korea's top payment app, raises $40M from Sequoia China and Singapore's GIC

    29 days ago - By Tech Crunch

    The largest payment app in South Korea, Toss , has pulled in $40 million in fresh investment from Singapore sovereign wealth fund GIC and Sequoia China.
    The deal for Viva Republica, Toss's parent company, comes just over a year after it raised $48 million from payment giant PayPal and others. There's no valuation for this newest round, but we do know that it is a ‘bridge' intended to bring new investors in and help accelerate the business for a large raise further down the line. (It is also the first Korean investment for both GIC and Sequoia China.)
    Not that the business seems to need...
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