This Toss company profile covers the company's valuation, revenue, funding rounds, investors and history. Toss works in fintech, with a focus on financial super app (payments, banking, securities). It was founded in 2013 and is headquartered in Seoul, South Korea. Its latest valuation on record is US$7.4 billion (June 2021). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
About ₩2.7 trillion (about US$1.82 billion), up 38% — Consolidated revenue, 2025 (as reported), as of FY2025. Source: The Korea Herald.
| Metric | Value | As of | Source |
|---|---|---|---|
| IPO plans | Planning a US listing at a reported target of more than US$10 billion; confidential filing process reported in 2026 | 2026 | Seoul Economic Daily |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jun 2021 | Series G | US$410M | US$7.4B | See source | TechCrunch |
Toss timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2013 — Toss is founded in Seoul by Lee Seung-gun (CEO).
- Jun 2021 — Series G: US$410M, valuing the company at US$7.4B.
- 2026 — IPO plans: Planning a US listing at a reported target of more than US$10 billion; confidential filing process reported in 2026.
Investors
Overview
Toss is South Korea's leading financial "super app". It started in 2015 as a simple way to send money between bank accounts without the complicated security software Korean banks then required, and has grown into a single app where users manage almost every part of their financial lives: payments, a digital bank (Toss Bank), a stock brokerage (Toss Securities), insurance, credit scores, loans, and in-store payments, including face-recognition payments. Its parent company is Viva Republica.
Lee Seung-gun founded Viva Republica in 2013. He had trained and worked as a dentist before becoming an entrepreneur, and several of his early app ideas failed before Toss succeeded. He remains CEO. The company is based in Seoul, and Toss is used by a large share of South Korea's population.
Products
- Money transfers and payments: free, simple transfers between banks, plus Toss Pay for online and offline purchases.
- Toss Bank: an internet-only bank launched in 2021, offering accounts, savings and loans.
- Toss Securities: a mobile brokerage for Korean and US stocks, which became one of the country's most popular platforms for overseas investing.
- Toss Payments: a payment gateway for merchants.
- Insurance and credit: comparison and sale of insurance, free credit score checks and a loan marketplace.
How Toss makes money
Toss earns from many sources: brokerage commissions and foreign exchange fees at Toss Securities, net interest income at Toss Bank, merchant fees at Toss Payments, commissions on loans and insurance sold through the app, and advertising. The breadth of products is the point: a user who comes to send money may later open a bank account, trade shares and buy insurance, and each product adds revenue.
Revenue and profitability
Viva Republica reported record consolidated revenue of about ₩2.7 trillion (about US$1.82 billion) in 2025, up 38% from a year earlier, according to The Korea Herald. Its securities arm was a major driver, as Korean retail investors traded heavily, especially in US stocks. The group recorded its first annual profit in 2024 and reported higher profits in 2025. Different reports cite profit figures for different entities within the group, so we show consolidated revenue only.
Funding and valuation
Toss raised many rounds from domestic and international investors, including Altos Ventures, Goodwater Capital, PayPal, GIC, HongShan (formerly Sequoia China) and Korea Development Bank. In June 2021, it raised US$410 million at a US$7.4 billion valuation, its last widely reported private round. We use that figure, noting that the planned IPO could set a new, higher valuation.
The US IPO plan
In 2024, Viva Republica dropped plans for a Korean listing and said it would pursue a US IPO instead. Reports in 2025 and early 2026 said it was targeting a valuation of more than US$10 billion, possibly higher, and raising US$2 billion to US$3 billion, with major banks advising. It began confidential discussions with US regulators, and later reports said it was also considering a dual listing in Korea. We haven't seen a public filing; IPO timing depends on market conditions.
Competitive landscape
Toss competes with KakaoBank and KakaoPay, part of the Kakao group behind Korea's dominant messaging app; with Naver Pay; with traditional banks and brokerages that have improved their apps; and with Samsung Pay. Its advantages are product design, breadth and a reputation for innovation. Its challenges are a mature, competitive domestic market and regulatory limits on how financial groups can operate.
What to watch next
Watch the IPO filing and valuation, growth of Toss Securities and Toss Bank, international expansion, and profitability trends.
Key facts at a glance
Toss is a Seoul financial super app run by Viva Republica, founded in 2013 by Lee Seung-gun. It offers payments, banking, securities, insurance and loans. It reported record 2025 consolidated revenue of about ₩2.7 trillion (US$1.82 billion), up 38%, after its first annual profit in 2024. It was valued at US$7.4 billion in a 2021 round and is preparing a US IPO.
Why super apps work in Korea
Super apps, single apps offering many services, have succeeded mainly in Asia, where smartphone adoption often came before widespread use of desktop banking. In South Korea, banking used to require installing cumbersome security plugins on computers, and Toss's simple mobile approach felt revolutionary. Once millions of users trusted Toss with transfers, adding new financial products inside the same app was natural. Western markets have seen fewer successful super apps, partly because regulation and habits differ, though companies like Revolut pursue a similar strategy.
Retail investing boom
Korean retail investors are among the most active in the world, and many trade US stocks. Toss Securities' easy access to overseas shares, small-amount investing and clear design made it popular, and its profits rose sharply. Brokerage revenue can be volatile, rising with market activity and falling in quiet periods, so investors look at how diversified Toss's income is across its businesses.
Questions to ask about a fintech super app
- Which products generate most of the revenue and profit?
- How many users use more than one product?
- How dependent is income on trading activity or interest rates?
Toss's expansion beyond Korea
Toss has tested international expansion, including in Southeast Asia, but the vast majority of its business is in South Korea. For a US IPO, investors will want to know whether its model can work in other markets or whether its growth will come mainly from deeper engagement with Korean users. Expanding a financial super app abroad is difficult, because each country requires separate licences, local partnerships and products adapted to local habits. Some Korean investors have also questioned whether a US listing would value Toss more highly than a listing in Seoul, where it is far better known.
Face-recognition payments are another area to watch. Toss has rolled out facial payment terminals in shops, letting customers pay without a phone or card, and reported rapid adoption. If successful, it could strengthen Toss's position in offline commerce, where traditional card companies remain strong.
What this means if you're…
A fintech founder: Toss shows how removing a single painful step can build trust that supports many later products.
A global investor: watch the US IPO for a rare chance to own a Korean fintech leader.
A business in Korea: payment gateways and in-app promotion can reach a very large share of consumers.
Latest developments (October 2026)
Viva Republica, the parent of Toss, continues to prepare a US listing. Fintech News Hong Kong reported preliminary work with JPMorgan, Morgan Stanley, UBS and Goldman Sachs, reported 2025 revenue of about ₩2.7 trillion and a sharp rise in profit, and a January 2026 share swap to take Ant Group's stake in Toss Payments. No public filing has appeared. The 2021 valuation in our profile is dated. See our digital banks guide.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Toss do?
Toss is a fintech / financial super app (payments, banking, securities) company headquartered in Seoul, South Korea. It was founded in 2013.
What is Toss's valuation?
Toss was valued at US$7.4 billion as of June 2021, according to TechCrunch. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Toss make?
Toss reported About ₩2.7 trillion (about US$1.82 billion), up 38% (consolidated revenue, 2025 (as reported)) as of FY2025, according to The Korea Herald.
What was Toss's latest funding round?
The most recent financing we have verified is a series g in Jun 2021: US$410M, at a valuation of US$7.4B. Source: TechCrunch.
Who are Toss's investors?
Investors named in public announcements include Altos Ventures, Goodwater Capital, PayPal, GIC, HongShan and Korea Development Bank.
Who founded Toss?
Toss was founded in 2013 by Lee Seung-gun (CEO).
Is Toss a public company?
No. Toss is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Toss headquartered?
Toss is headquartered in Seoul, South Korea.