Funding round
Toss Business Series B
Toss Business, which works in superapp platform services in Seoul, raised $24M in a Series B round announced on 29 Sep 2016, led by Goodwater Capital and Qualcomm Ventures. 4 firms took part. It is Toss Business' first venture round on record.
$24M
Amount raised
Not disclosed
Post-money valuation
4
Investors
2 leads
Valuation
What this round says about the price
Toss Business did not disclose a valuation in this round. It is Toss Business' first venture round on record, 1 year after it was founded in 2015. It is 3.8% of the $626M Toss Business has raised in the venture rounds on record. Toss Business raised again 6 months later: a Series C round of $48M in Mar 2017. Its next priced round, a Growth in Dec 2018, valued it at $1.20B.
Toss Business' funding rounds
Toss Business has 5 venture rounds on record. This one is highlighted.
- Series B this round 29 Sep 2016, led by Goodwater Capital and Qualcomm Ventures $24M
- Series C 9 Mar 2017, led by Goodwater Capital $48M
- Growth 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
Goodwater Capital and Qualcomm Ventures led the round with 2 other firms.
Lead investors
- Goodwater Capital backs 162 venture-backed companies new investor
- Qualcomm Ventures backs 140 venture-backed companies new investor
Also in the round
- backs 81 venture-backed companies new investor
- KTB Network new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
14 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $14M, and this round was 1.7 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 13 Oct 2016 | $13M | not disclosed | BDC IT Venture Fund |
| Payment Processing & Point of Sale | 28 Jul 2016 | $15M | not disclosed | Eight Roads and SBI Holdings |
| Plaid Payment Processing & Point of Sale | 20 Jun 2016 | $44M | not disclosed | Goldman Sachs |
| Payment Processing & Point of Sale | 14 Dec 2016 | $20M | not disclosed | AXA Strategic Ventures |
| Payment Processing & Point of Sale | 9 Jan 2017 | $17M | $47M | not named |
| Payment Processing & Point of Sale | 19 May 2016 | $10M | not disclosed | Creades and SEB Venture Capital |
| Payment Processing & Point of Sale | 8 Mar 2017 | $24M | not disclosed | National Australia Bank (NAB) Ventures |
| Payment Processing & Point of Sale | 20 Mar 2017 | $150K | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Toss Business raise in its Series B round?
Toss Business raised $24M in its Series B round, announced in Sep 2016.
Who led Toss Business' Series B round?
Goodwater Capital and Qualcomm Ventures led it, with Altos Ventures and KTB Network.
What was Toss Business' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
14 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $14M, and this round was 1.7 times the median.
Did Toss Business raise again after this round?
Yes: a Series C round in Mar 2017 of $48M.