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 [...]
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 [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s financial regulator on Wednesday granted the final approval for a new internet-only bank, a move that could further fuel competition with established bigger players. The Financial Services Commission (FSC) gave the approval to the consortium led by South Korean fintech firm Viva Republica, which operates the popular [...]
SEOUL, Dec. 21 (Korea Bizwire) — LG Uplus Corp., a major telecommunications company in South Korea, said Friday it has signed a deal to sell its payment gateway business to local fintech firm Viva Republica Ltd. Under the agreement, LG Uplus will first spin off its payment gateway business and sell its entire stake in [...]
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 [...]
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 [...]
SEOUL, May 26 (Korea Bizwire) — In an unexpected turn of events, South Korea’s financial regulator on Sunday rejected applications by two consortia to set up the nation’s third and fourth Internet-only banks. One consortium is backed by financial technology firm Viva Republica and the other is led by brokerage Kiwoom Securities. The Financial Services [...]