Golden Finance reported that Toss Bank, a South Korean digital lender and new bank, completed a round of financing of US$153 million in March 2023, and is about to refinance US$154 million at a valuation of US$2.1 billion (2.7 trillion won) (200 billion won). 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.