Fintech app Toss made headlines as its South Korean Operator Viva Republica raised $410 million in fresh funding. Toss is a six-year-old Korea-based application whose popularity has peaked in recent times, accumulating over 200 million users.
Dentist-turned-entrepreneur Lee Seung-gun launched the app in February 2015 as a money transfer service similar to Venmo, a mobile payment service popular among younger users, owned by PayPal (PYPL) - Get PayPal Holdings Inc Report.
However, it added other financial services like loan payments, investments, credit score management, insurance products, etc., which helped boost its popularity.
The Korean Herald reported that Viva Republic is eyeing to go public in the U.S. in 2025.
“We‘re not in a hurry and we will consider an IPO in earnest three years down the road, and could go public around 2025,“ said Viva Republic founder Lee Seung-gun.