Viva Republican, Korea’s well-known FinTech startup & creator of mobile financial services stage Toss proclaimed that it raised a $64M fundraising at a $2.2B assessment directed via Aspex Management, an equity investment agency in Hong Kong with returning sponsors. This funding session is going to convey the whole lifted to date to around $250 million.
It is the initial investment in a private organization by Aspex Management, which is an Asian equity investment company introduced in the year 2018. It has invested across the private and public equity markets.
The existing sponsors of Toss participating in the round include Bessemer Venture Partners, Altos Ventures, Sequoia Capital China, Kleiner Perkins, GIC, and Goodwater Capital.
As it is launch in 2015 as a secure and frictionless P2P (peer-to-peer) money transfer service, the organization (Toss) has grown into a podium offering an occupied suite of monetary services all in one application. The app is ranging from money transfer service, as well as a dashboard permitting users to see bank and credit or debit card transactions, regulate their loan and insurance plans, credit score, a variety of investment services, touching every facet of user’s regular financial lives.
Till date, Toss has been installed over 30 million times & has more than 13 million registered users, over a fifth of the population. Toss has recognized itself as a reliable financial services application with $42+B of transactions done.
Hermes Li, founder & CIO of Aspex Management, said, “We like the large addressable market financial services offer and the unique leading position Toss occupies amongst mobile consumers.” “We are confident that the exceptional Toss team will solidify the company into a fully integrated consumer financial services platform,” he added further.
Also, the SG Lee, Viva Republica’s CEO, mentioned, “We are truly pleased that Toss has gained further momentum to embark upon the next phase of its journey. Our mission is to provide the best possible financial service experience to users, and we will continue to do our best for Toss to become the only service needed for users’ safe and easy day-to-day financial lives.”
Founded in 2013, Viva Republica commenced a trouble-free and frictionless peer-to-peer fund transfer service Toss in the year of 2015. The stage has turned into one of the fastest growing financial apps of the world, with $42+ billion of increasing transactions. Balancing its payments system and P2P money transfer, Toss now provides a complete suite of commercial services, which includes investment products, banking services, credit score management, and financial dashboard.
The corporation was positioned 28th in KPMG’s 2018 Fintech 100. Viva Republica, situated in Seoul, is powered by a lot of high profile worldwide sponsors such as Qualcomm Ventures, Bessemer Venture Partners, Kleiner Perkins, Goodwater Capital, Sequoia China, PayPal, Altos Ventures, GIC, Ribbit Capital, and others.
About Aspex Management
Aspex Management is an Asian equity investment organization introduced in 2018. It was established by Hermes Li together along with a team of skilled sponsored experts with a winning track record spending across Asia. Before beginning Aspex Management, Mr. Li used to work for Och-Ziff Management, which is one of the most significant substitute asset managers internationally and directed their private and public equities sponsoring effort in Asia, as an Executive Managing Director.
Aspex makes use of a research-intensive approach to build the asset portfolio via a bottom-up safety selection procedure. It seems to spend in industries and organizations uncovered to big addressable marketplaces with great potential, and companies experiencing structural alterations.