Toss Business valuation, funding and investors

Toss Business works in superapp platform services, based in Seoul, South Korea. Founded in 2015, it has about 50 employees.

Payment Processing & Point of Sale Series H

VALUATION · TODAY

$15.37B −4% after Series H+

Range $2.22B – $17.68B · Grade D

TODAY

+12 MO

$5.00B

$10.00B

$15.00B

$20.00B

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Series B $23.7M

Series C $48.0M

Growth $80.0M

Series F $64.0M

Series H+ $410M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY– employees

–6m growth

–1y growth

–2y growth

2,000

4,000

Data from Jan 2021

TODAY

Predicted in 1 yr $14.75B −4% vs today

Predicted next raise $2.14B if a round comes

Winding-down probability 0%

Last round: Series H+ · $410M · Jun 2021
Valuation at last round: $7.40B
Headcount: –
Grade: D
Founded: 2015

How VCMC values companies →

Toss Business valuation today

VCMC values Toss Business at $15.4B today, with a range of $2.2B to $17.7B and a grade of D. The valuation starts from its last funding round, a Series H+ round in Jun 2021.

Valuation by date (147 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Toss Business: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2015	$2.64M	$0.96M – $7.26M	$2.77M (+5%)	before first round	–	unknown	D	0%
1 Feb 2015	$2.65M	$0.97M – $7.29M	$2.78M (+5%)	before first round	–	unknown	D	0%
1 Mar 2015	$2.66M	$0.97M – $7.31M	$2.79M (+5%)	before first round	–	unknown	D	0%
1 Apr 2015	$2.67M	$0.97M – $7.34M	$2.80M (+5%)	before first round	–	unknown	D	0%
1 May 2015	$2.68M	$0.98M – $7.37M	$2.81M (+5%)	before first round	–	unknown	D	0%
1 Jun 2015	$2.69M	$0.98M – $7.40M	$2.82M (+5%)	before first round	–	unknown	D	0%
1 Jul 2015	$2.70M	$0.98M – $7.43M	$2.83M (+5%)	before first round	–	unknown	D	0%
1 Aug 2015	$2.71M	$0.99M – $7.46M	$2.91M (+7%)	before first round	–	unknown	D	0%
1 Sep 2015	$2.73M	$0.99M – $7.49M	$2.99M (+10%)	before first round	–	unknown	D	0%
1 Oct 2015	$2.74M	$1.00M – $7.52M	$3.06M (+12%)	before first round	–	unknown	D	0%
1 Nov 2015	$2.75M	$1.00M – $7.54M	$3.15M (+15%)	before first round	–	unknown	D	0%
1 Dec 2015	$2.76M	$1.00M – $7.57M	$3.23M (+17%)	before first round	–	unknown	D	0%
1 Jan 2016	$2.77M	$1.01M – $7.60M	$3.32M (+20%)	before first round	–	unknown	D	0%
1 Feb 2016	$2.78M	$1.01M – $7.63M	$3.41M (+23%)	before first round	–	unknown	D	0%
1 Mar 2016	$2.79M	$1.02M – $7.66M	$3.49M (+25%)	before first round	–	unknown	D	0%
1 Apr 2016	$2.80M	$1.02M – $7.69M	$3.59M (+28%)	before first round	–	unknown	D	0%
1 May 2016	$2.81M	$1.02M – $7.72M	$3.68M (+31%)	before first round	–	unknown	D	0%
1 Jun 2016	$2.82M	$1.03M – $7.75M	$3.78M (+34%)	before first round	–	unknown	D	0%
1 Jul 2016	$2.83M	$1.03M – $7.78M	$3.88M (+37%)	before first round	–	unknown	D	0%
1 Aug 2016	$2.91M	$1.06M – $7.99M	$3.99M (+37%)	before first round	–	unknown	D	0%
1 Sep 2016	$2.99M	$1.09M – $8.21M	$4.10M (+37%)	before first round	–	unknown	D	0%
30 Sep 2016	$147M	$96.7M – $336M	$221M (+50%)	after a round	–	unknown	C	0%
1 Oct 2016	$148M	$96.7M – $336M	$221M (+50%)	after a round	–	unknown	C	0%
1 Nov 2016	$153M	$96.7M – $336M	$221M (+45%)	after a round	–	unknown	C	0%
1 Dec 2016	$158M	$96.7M – $336M	$221M (+40%)	after a round	–	unknown	C	0%
1 Jan 2017	$163M	$96.7M – $336M	$221M (+35%)	after a round	–	unknown	C	0%
1 Feb 2017	$169M	$96.7M – $336M	$221M (+31%)	after a round	–	unknown	C	0%
1 Mar 2017	$174M	$96.7M – $336M	$221M (+27%)	after a round	–	unknown	C	0%
10 Mar 2017	$301M	$212M – $556M	$392M (+30%)	after a round	–	unknown	B	0%
1 Apr 2017	$306M	$212M – $556M	$392M (+28%)	after a round	–	unknown	B	0%
1 May 2017	$313M	$212M – $556M	$392M (+25%)	after a round	–	unknown	B	0%
1 Jun 2017	$320M	$212M – $556M	$392M (+22%)	after a round	–	unknown	B	0%
1 Jul 2017	$327M	$212M – $556M	$392M (+20%)	after a round	–	unknown	B	0%
1 Aug 2017	$334M	$212M – $556M	$392M (+17%)	after a round	–	unknown	B	0%
1 Sep 2017	$342M	$212M – $556M	$392M (+15%)	after a round	–	unknown	B	0%
1 Oct 2017	$349M	$212M – $556M	$392M (+12%)	after a round	–	unknown	B	0%
1 Nov 2017	$357M	$212M – $556M	$392M (+10%)	after a round	–	unknown	B	0%
1 Dec 2017	$365M	$212M – $556M	$392M (+7%)	after a round	–	unknown	B	0%
1 Jan 2018	$373M	$212M – $556M	$392M (+5%)	after a round	–	unknown	B	0%
1 Feb 2018	$381M	$212M – $556M	$392M (+3%)	after a round	–	unknown	B	0%
1 Mar 2018	$389M	$212M – $556M	$392M (+1%)	after a round	–	unknown	B	0%
1 Apr 2018	$392M	$205M – $556M	$392M (0%)	after a round	–	unknown	B	0%
1 May 2018	$392M	$196M – $556M	$392M (0%)	after a round	–	unknown	B	0%
1 Jun 2018	$392M	$187M – $556M	$392M (0%)	after a round	–	unknown	B	0%
1 Jul 2018	$392M	$179M – $556M	$392M (0%)	after a round	–	unknown	B	0%
1 Aug 2018	$392M	$171M – $556M	$392M (0%)	after a round	–	unknown	B	0%
1 Sep 2018	$392M	$163M – $556M	$392M (0%)	after a round	–	unknown	C	0%
1 Oct 2018	$392M	$156M – $556M	$392M (0%)	after a round	–	unknown	C	0%
1 Nov 2018	$392M	$149M – $556M	$392M (0%)	after a round	–	unknown	C	0%
1 Dec 2018	$392M	$142M – $556M	$392M (0%)	after a round	–	unknown	C	0%
11 Dec 2018	$1.2B	$1.0B – $1.5B	$1.3B (+10%)	after a round	–	unknown	A	0%
1 Jan 2019	$1.2B	$1.0B – $1.5B	$1.3B (+9%)	after a round	–	unknown	A	0%
1 Feb 2019	$1.2B	$1.0B – $1.5B	$1.3B (+8%)	after a round	–	unknown	A	0%
1 Mar 2019	$1.2B	$1.0B – $1.5B	$1.3B (+8%)	after a round	–	unknown	A	0%
1 Apr 2019	$1.2B	$1.0B – $1.5B	$1.3B (+7%)	after a round	–	unknown	A	0%
1 May 2019	$1.2B	$1.0B – $1.5B	$1.3B (+6%)	after a round	–	unknown	A	0%
1 Jun 2019	$1.3B	$1.0B – $1.5B	$1.3B (+5%)	after a round	–	unknown	A	0%
1 Jul 2019	$1.3B	$1.0B – $1.5B	$1.3B (+4%)	after a round	–	unknown	A	0%
1 Aug 2019	$1.3B	$1.0B – $1.5B	$1.3B (+3%)	after a round	–	unknown	A	0%
9 Aug 2019	$2.2B	$1.9B – $3.3B	$2.9B (+30%)	after a round	–	unknown	A	0%
1 Sep 2019	$2.2B	$1.9B – $3.3B	$2.9B (+28%)	after a round	–	unknown	A	0%
1 Oct 2019	$2.3B	$1.9B – $3.3B	$2.9B (+25%)	after a round	–	unknown	A	0%
1 Nov 2019	$2.3B	$1.9B – $3.3B	$2.9B (+22%)	after a round	–	unknown	A	0%
1 Dec 2019	$2.4B	$1.9B – $3.3B	$2.9B (+20%)	after a round	–	unknown	A	0%
1 Jan 2020	$2.4B	$1.9B – $3.3B	$2.9B (+17%)	after a round	–	unknown	A	0%
1 Feb 2020	$2.5B	$1.9B – $3.3B	$2.9B (+14%)	after a round	–	unknown	A	0%
1 Mar 2020	$2.6B	$1.9B – $3.3B	$2.9B (+12%)	after a round	–	unknown	A	0%
1 Apr 2020	$2.6B	$1.9B – $3.3B	$2.9B (+10%)	after a round	–	unknown	A	0%
1 May 2020	$2.7B	$1.9B – $3.3B	$2.9B (+7%)	after a round	–	unknown	A	0%
1 Jun 2020	$2.7B	$1.9B – $3.3B	$2.9B (+5%)	after a round	–	unknown	A	0%
1 Jul 2020	$2.8B	$1.9B – $3.3B	$2.9B (+3%)	after a round	–	unknown	A	0%
1 Aug 2020	$2.8B	$1.9B – $3.3B	$2.9B (0%)	after a round	–	unknown	A	0%
1 Sep 2020	$2.9B	$1.8B – $3.3B	$2.9B (0%)	after a round	–	unknown	A	0%
1 Oct 2020	$2.9B	$1.8B – $3.3B	$2.9B (0%)	after a round	–	unknown	B	0%
1 Nov 2020	$2.9B	$1.7B – $3.3B	$2.9B (0%)	after a round	–	unknown	B	0%
1 Dec 2020	$2.9B	$1.6B – $3.3B	$2.9B (0%)	after a round	–	unknown	B	0%
1 Jan 2021	$2.9B	$1.5B – $3.3B	$2.9B (0%)	after a round	250	unknown	B	0%
1 Feb 2021	$2.9B	$1.5B – $3.3B	$2.9B (0%)	after a round	250	unknown	B	0%
1 Mar 2021	$2.9B	$1.4B – $3.3B	$2.9B (0%)	after a round	250	unknown	B	0%
1 Apr 2021	$2.9B	$1.3B – $3.3B	$2.9B (0%)	after a round	250	flat	B	0%
1 May 2021	$2.9B	$1.3B – $3.3B	$2.9B (0%)	after a round	250	flat	B	0%
1 Jun 2021	$2.9B	$1.2B – $3.3B	$2.9B (0%)	after a round	250	flat	B	0%
1 Jul 2021	$7.4B	$6.4B – $11.1B	$9.6B (+30%)	after a round	250	flat	A	0%
1 Aug 2021	$7.6B	$6.4B – $11.1B	$9.6B (+27%)	after a round	250	flat	A	0%
1 Sep 2021	$7.7B	$6.4B – $11.1B	$9.6B (+24%)	after a round	250	flat	A	0%
1 Oct 2021	$7.9B	$6.4B – $11.1B	$9.6B (+22%)	after a round	250	flat	A	0%
1 Nov 2021	$8.1B	$6.4B – $11.1B	$9.6B (+19%)	after a round	250	flat	A	0%
1 Dec 2021	$8.3B	$6.4B – $11.1B	$9.6B (+16%)	after a round	250	flat	A	0%
1 Jan 2022	$8.5B	$6.4B – $11.1B	$9.6B (+14%)	after a round	250	flat	A	0%
1 Feb 2022	$9.5B	$6.4B – $12.9B	$11.2B (+18%)	after a round	500	growing	B	0%
1 Mar 2022	$9.8B	$6.4B – $12.9B	$11.2B (+15%)	after a round	500	growing	B	0%
1 Apr 2022	$10.1B	$6.4B – $12.9B	$11.2B (+11%)	after a round	500	growing	B	0%
1 May 2022	$10.5B	$6.4B – $12.9B	$11.2B (+7%)	after a round	500	growing	B	0%
1 Jun 2022	$10.8B	$6.4B – $12.9B	$11.2B (+3%)	after a round	500	growing	B	0%
1 Jul 2022	$11.2B	$6.4B – $12.9B	$11.2B (0%)	after a round	500	growing	B	0%
1 Aug 2022	$11.2B	$6.6B – $12.9B	$11.2B (0%)	after a round	500	growing	B	0%
1 Sep 2022	$11.2B	$6.7B – $12.9B	$11.2B (0%)	after a round	500	growing	B	0%
1 Oct 2022	$11.2B	$6.8B – $12.9B	$11.2B (0%)	after a round	500	growing	B	0%
1 Nov 2022	$11.2B	$5.6B – $12.9B	$11.2B (0%)	after a round	500	unknown	B	0%
1 Dec 2022	$11.2B	$5.4B – $12.9B	$11.2B (0%)	after a round	500	unknown	B	0%
1 Jan 2023	$11.2B	$5.3B – $12.9B	$11.2B (0%)	after a round	500	unknown	B	0%
1 Feb 2023	$11.2B	$5.1B – $12.9B	$11.2B (0%)	after a round	500	unknown	B	0%
1 Mar 2023	$11.2B	$4.9B – $12.9B	$11.2B (0%)	after a round	500	unknown	B	0%
1 Apr 2023	$11.2B	$4.8B – $12.9B	$11.2B (0%)	after a round	500	unknown	B	0%
1 May 2023	$13.8B	$9.2B – $15.9B	$13.8B (0%)	after a round	1,300	growing	A	0%
1 Jun 2023	$13.8B	$9.5B – $15.9B	$13.8B (0%)	after a round	1,300	growing	A	0%
1 Jul 2023	$13.8B	$9.4B – $15.9B	$13.8B (0%)	after a round	1,300	growing	A	0%
1 Aug 2023	$13.8B	$9.4B – $15.9B	$13.8B (0%)	after a round	1,300	growing	A	0%
1 Sep 2023	$13.8B	$4.6B – $15.9B	$13.8B (0%)	after a round	1,300	unknown	C	0%
1 Oct 2023	$14.1B	$4.4B – $16.2B	$13.8B (-2%)	after a round	1,400	flat	C	0%
1 Nov 2023	$14.1B	$4.2B – $16.2B	$13.7B (-3%)	after a round	1,400	flat	C	0%
1 Dec 2023	$14.1B	$4.0B – $16.2B	$13.6B (-3%)	after a round	1,400	flat	C	0%
1 Jan 2024	$14.1B	$3.8B – $16.2B	$13.5B (-4%)	after a round	1,400	flat	C	0%
1 Feb 2024	$14.5B	$6.8B – $16.6B	$14.2B (-2%)	after a round	1,600	up	B	0%
1 Mar 2024	$14.5B	$6.7B – $16.6B	$14.2B (-2%)	after a round	1,600	up	B	0%
1 Apr 2024	$14.5B	$6.5B – $16.6B	$14.2B (-2%)	after a round	1,600	up	B	0%
1 May 2024	$14.5B	$6.4B – $16.6B	$14.2B (-2%)	after a round	1,600	up	B	0%
1 Jun 2024	$14.5B	$6.3B – $16.6B	$14.1B (-2%)	after a round	1,600	up	B	0%
1 Jul 2024	$14.9B	$8.9B – $17.1B	$14.9B (0%)	after a round	1,800	growing	B	0%
1 Aug 2024	$14.9B	$8.8B – $17.1B	$14.9B (0%)	after a round	1,800	growing	B	0%
1 Sep 2024	$14.9B	$8.7B – $17.1B	$14.9B (0%)	after a round	1,800	growing	B	0%
1 Oct 2024	$14.9B	$8.6B – $17.1B	$14.9B (0%)	after a round	1,800	growing	B	0%
1 Nov 2024	$15.2B	$8.7B – $17.5B	$15.2B (0%)	after a round	2,000	growing	B	0%
1 Dec 2024	$15.2B	$8.6B – $17.5B	$15.2B (0%)	after a round	2,000	growing	B	0%
1 Jan 2025	$15.2B	$8.5B – $17.5B	$15.2B (0%)	after a round	2,000	growing	B	0%
1 Feb 2025	$15.2B	$8.4B – $17.5B	$15.2B (0%)	after a round	2,000	growing	B	0%
1 Mar 2025	$15.2B	$8.3B – $17.5B	$15.2B (0%)	after a round	2,000	growing	B	0%
1 Apr 2025	$15.2B	$8.2B – $17.5B	$15.2B (0%)	after a round	2,000	growing	B	0%
1 May 2025	$14.9B	$3.7B – $17.1B	$14.5B (-2%)	after a round	2,000	up	C	0%
1 Jun 2025	$14.9B	$3.6B – $17.1B	$14.5B (-2%)	after a round	2,000	up	C	0%
1 Jul 2025	$14.8B	$2.9B – $17.1B	$14.5B (-2%)	after a round	2,000	up	C	0%
1 Aug 2025	$16.2B	$7.4B – $18.7B	$16.2B (0%)	after a round	2,705	growing	B	0%
1 Sep 2025	$16.2B	$7.2B – $18.7B	$16.2B (0%)	after a round	2,705	growing	B	0%
1 Oct 2025	$16.4B	$7.2B – $18.9B	$16.4B (0%)	after a round	2,860	growing	B	0%
1 Nov 2025	$16.4B	$7.1B – $18.9B	$16.4B (0%)	after a round	2,860	growing	B	0%
1 Dec 2025	$16.4B	$7.0B – $18.9B	$16.4B (0%)	after a round	2,860	growing	B	0%
1 Jan 2026	$16.4B	$6.9B – $18.9B	$16.4B (0%)	after a round	2,860	growing	B	0%
1 Feb 2026	$16.4B	$6.8B – $18.9B	$16.4B (0%)	after a round	2,860	growing	B	0%
1 Mar 2026	$16.4B	$6.7B – $18.9B	$16.4B (0%)	after a round	2,860	growing	B	0%
1 Apr 2026	$16.8B	$6.7B – $19.4B	$16.8B (0%)	after a round	3,176	growing	B	0%
1 May 2026	$16.9B	$6.6B – $19.4B	$16.9B (0%)	after a round	3,196	growing	B	0%
1 Jun 2026	$15.6B	$2.2B – $18.0B	$15.0B (-4%)	after a round	3,237	up	D	0%
1 Jul 2026	$15.6B	$2.2B – $17.9B	$14.9B (-4%)	after a round	3,237	up	D	0%
1 Aug 2026	$15.5B	$2.2B – $17.8B	$14.9B (-4%)	after a round	3,237	up	D	0%
1 Sep 2026	$15.5B	$2.2B – $17.8B	$14.8B (-4%)	after a round	3,237	up	D	0%
1 Oct 2026	$15.4B	$2.2B – $17.7B	$14.8B (-4%)	after a round	3,237	up	D	0%
24 Oct 2026	$15.4B	$2.2B – $17.7B	$14.8B (-4%)	after a round	–	up	D	0%

Key facts about Toss Business

Founded: 2015
Headquarters: Seoul, South Korea
Employees: about 50
Total raised: $626M
Funding rounds: 5
Last round: Series H Jun 2021

Toss Business was founded in 2015 by Seung-Gun Lee.

Toss Business funding history

Toss Business has 5 funding rounds on record, from Sep 2016 to Jun 2021, $626M in total. The latest disclosed valuation is $7.40B post-money (Series H, Jun 2021).

Series H 30 Jun 2021
Led by Alkeon; with Korea Development Bank, Altos Ventures, Greyhound Capital.
Sources: hollandfintech.com, emarketer.com, fintechfutures.com and 4 more
$410M
$7.40B post-money
Series F 8 Aug 2019
Led by Aspex Management.
Sources: koreatechdesk.com
$64M
$2.20B post-money
Growth Equity 10 Dec 2018
Led by Ribbit; with Altos Ventures, Bessemer Venture Partners, Goodwater Capital, KTB Network, PayPal, Qualcomm Ventures.
Sources: newsroom.paypal-corp.com, techcrunch.com
$80M
$1.20B post-money
Series C 9 Mar 2017
Led by Goodwater Capital; with PayPal Holdings, Inc., Bessemer Venture Partners, Altos Ventures, Partech.
Sources: finsmes.com, techcrunch.com
$48M
Series B 29 Sep 2016
Led by Goodwater Capital, Qualcomm Ventures; with Altos Ventures, KTB Network.
Sources: finsmes.com, sg.news.yahoo.com
$24M

Toss Business investors

13 investors have backed Toss Business; Goodwater Capital, Qualcomm Ventures and Alkeon and 2 more led at least one round.

Goodwater Capital lead, 3 rounds
Qualcomm Ventures lead, 2 rounds
Alkeon lead
Aspex Management lead
Ribbit lead
Bessemer Venture Partners 2 rounds
KTB Network 2 rounds
Greyhound Capital
Korea Development Bank
PayPal
PayPal Holdings, Inc.

What Toss Business does

Toss Business works in payment processing & point of sale, with 15 recorded offerings and customers in financial technology, e-commerce, retail and financial services.

Viva Republica Co., Ltd. (㈜비바리퍼블리카), known as Toss Business (토스 비즈니스), is a South Korean company operating in the financial technology sector. The company provides business services such as advertising, payment processing, online sales, and customer support for businesses, including e-commerce platforms, retail, and financial services. It also operates as a financial institution, offering internet banking services to underserved groups. Toss Business serves a global user base and offers its services in multiple languages.

Description from Veridion's company data.

Products and services

SuperApp Platform Services
Financial Technology Platform Development
Mobile Payment Services
Digital Currency Management Services
E-Commerce Enablement Services
Retail Enablement Services
Advertising and Marketing Services
Advertising Campaign Management Services
Affiliate Marketing Services
App Integration Services
Face Recognition Integration Services
Business Growth Services
Financial Inclusion Solutions
Multi-Language Platform Services
Online Presence Enhancement Services

Markets

Financial Technology
E-commerce
Retail
Financial Services

Business model

Business-to-Business
Business-to-Consumer
Service Provider

Industry codes (NAICS)

522110 Commercial Banking 40% match
522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities 25% match
541810 Advertising Agencies 20% match
455219 All Other General Merchandise Retailers 15% match

Questions about Toss Business

What is Toss Business worth?

Valuation $15.4B (range $2.2B to $17.7B), as of 24 Oct 2026. The last disclosed valuation was $7.40B (Series H, Jun 2021).

Has Toss Business raised money?

Toss Business has 5 funding rounds on record, from Sep 2016 to Jun 2021, $626M in total. The latest disclosed valuation is $7.40B post-money (Series H, Jun 2021).

Who has invested in Toss Business?

Goodwater Capital, Qualcomm Ventures, Alkeon, Aspex Management, Ribbit and Altos Ventures, and 7 more. Lead investors include Goodwater Capital, Qualcomm Ventures, Alkeon and Aspex Management.

How many people work at Toss Business?

About 50. Headcount grew from 250 in Jan 2021 to 3,237 in Jun 2026.

What does Toss Business do?

Toss Business works in payment processing & point of sale, with 15 recorded offerings and customers in financial technology, e-commerce, retail and financial services. Its main offerings are superapp platform services, financial technology platform development and mobile payment services.

When was Toss Business founded, and where is it based?

Toss Business was founded in 2015 and is based in Seoul, South Korea. It has about 50 employees.

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Toss Business funding history

Series H 30 Jun 2021

Series F 8 Aug 2019

Growth Equity 10 Dec 2018

Series C 9 Mar 2017

Series B 29 Sep 2016