Toss Archives | Be Korea-savvy
Internet-only Toss Bank Begins Services for Expats

Internet-only Toss Bank Begins Services for Expats

SEOUL, May 2 (Korea Bizwire) — Toss Bank, one of the three internet-only banks in South Korea, said Monday it launched the country’s first banking services for foreign expats here to provide them more access to diversified services. Many expats have had difficulties in confirming their identities to open bank accounts here, particularly because the [...]

Toss to Jump into Taxi-hailing Business After Acquiring VCNC

Toss to Jump into Taxi-hailing Business After Acquiring VCNC

SEOUL, Oct. 12 (Korea Bizwire) — South Korea’s taxi-hailing market, dominated by internet giant Kakao Corp.’s mobility unit, is facing a new challenger. Viva Republica Inc., the operator of financial app Toss, recently acquired 60 percent stake in VCNC, the company behind ride-hailing service Tada. Tada currently operates a taxi-hailing app after its popular van-hailing [...]

Toss Operator to Acquire Major Stake in Mobility Firm VCNC

Toss Operator to Acquire Major Stake in Mobility Firm VCNC

SEOUL, Oct. 8 (Korea Bizwire) — Viva Republica Inc., the company behind popular South Korean financial app Toss, said Friday it will acquire a 60 percent stake in VCNC, the operator of ride-hailing service Tada, in a move to enter the country’s competitive mobility market. The fintech-focused company said it signed a three-way memorandum of [...]

Viva Republica’s Valuation at Over 8 tln Won in Additional Funding

Viva Republica’s Valuation at Over 8 tln Won in Additional Funding

SEOUL, June 23 (Korea Bizwire) — Viva Republica Inc., the operator of popular South Korean financial app Toss, said Wednesday it has raised 460 billion won (US$407.5 million) in its latest funding with a valuation at 8.2 trillion won. The latest funding boosts Viva Republica’s valuation by nearly three times since its previous funding in [...]

S. Korea OKs 3rd Internet-only Bank

S. Korea OKs 3rd Internet-only Bank

SEOUL, Dec. 16 (Korea Bizwire) — South Korea’s financial regulator on Monday granted preliminary approval for a new internet-only bank, a move that could further fuel competition with established bigger players and foster the fledging market. The Financial Services Commission (FSC) gave the initial approval to the consortium led by South Korean fintech firm Viva [...]

Three Consortia Apply for Internet-only Bank: Regulator

Three Consortia Apply for Internet-only Bank: Regulator

SEOUL, Oct. 15 (Korea Bizwire) — South Korea’s financial regulator said Tuesday it received applications from three consortia, including one led by a fintech firm, for a license to set up a new internet-only bank. Fintech firm Viva Republica led one consortium, which included KEB Hana Bank, Hanwha Investment & Securities and the Korean unit [...]