South Korea’s largest fintech startup Toss, is planning to raise about $200 million from investors to bankroll its expansion in online banking and security trading services.
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38-Year-Old CEO of Korean Fintech Leader Seeks $200 Million
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Toss, founded in 2011 and incorporated in 2013, is South Korea’s largest fintech startup with some 10 million monthly active users. It reached its first break-even month in April and is now processing 4.5 trillion won ($3.7 billion) of transactions a month after handling about 9.2% of the country’s online transfers in 2019. The company is planning to start a securities brokerage service in the second half of this year and build an internet bank in July next year, helping it win a bigger slice of the $43 billion financial market in South Korea.
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