Funding round
Toss Business Growth
Reported as "Growth Equity"
Toss Business, which works in superapp platform services in Seoul, raised $80M in a Growth round announced on 10 Dec 2018, led by Ribbit, at a $1.20B post-money valuation. 7 firms took part. It is Toss Business' third venture round on record; the one before was a Series C in Mar 2017.
$80M
Amount raised
$1.20B
Post-money valuation
$1.12B pre-money
7
Investors
1 lead
6.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Toss Business at $1.20B after the new money. The $80M bought investors about 6.7% of the company. It came 21 months after Toss Business' Series C. It is 13% of the $626M Toss Business has raised in the venture rounds on record. Toss Business raised again 8 months later: a Series F round of $64M in Aug 2019, at $2.20B post-money.
Toss Business' funding rounds
Toss Business has 5 venture rounds on record. This one is highlighted.
- Series B 29 Sep 2016, led by Goodwater Capital and Qualcomm Ventures $24M
- Series C 9 Mar 2017, led by Goodwater Capital $48M
- Growth this round 10 Dec 2018, led by Ribbit $80M$1.20B post-money
- Series F 8 Aug 2019, led by Aspex Management $64M$2.20B post-money
- Series H+ 30 Jun 2021, led by Alkeon $410M$7.40B post-money
Investors
Who put money in
Ribbit led the round with 6 other firms.
Lead investor
- Ribbit backs 126 venture-backed companies new investor
Also in the round
- backs 81 venture-backed companies new investor
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- Goodwater Capital backs 162 venture-backed companies new investor
- KTB Network new investor
- PayPal new investor
- Qualcomm Ventures backs 140 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
14 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $49M, and this round was 1.6 times the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| BillDesk Payment Processing & Point of Sale | 1 Jan 2019 | $300M | not disclosed | Visa |
| BillDesk Payment Processing & Point of Sale | 1 Feb 2019 | $85M | $1.00B | Visa |
| Payment Processing & Point of Sale | 7 Feb 2019 | $64M | $273M | Insight Partners |
| Stripe Payment Processing & Point of Sale | 26 Sep 2018 | $245M | $20.00B | Tiger Global and Sequoia Capital |
| Payment Processing & Point of Sale | 27 Sep 2018 | $25M | not disclosed | Goldman Sachs |
| Payment Processing & Point of Sale | 4 Apr 2019 | $30M | not disclosed | not named |
| PPRO Payment Processing & Point of Sale | 16 Jul 2018 | $50M | not disclosed | PayPal |
| Payment Processing & Point of Sale | 22 May 2018 | $35M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Toss Business raise in its Growth round?
Toss Business raised $80M in its Growth round, announced in Dec 2018.
Who led Toss Business' Growth round?
Ribbit led it, with Altos Ventures, Bessemer Venture Partners, Goodwater Capital, KTB Network and PayPal and 1 more.
What was Toss Business' valuation at the Growth round?
$1.20B post-money ($1.12B pre-money).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
14 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $49M, and this round was 1.6 times the median.
Did Toss Business raise again after this round?
Yes: a Series F round in Aug 2019 of $64M at $2.20B post-money.