Funding round
Toss Business Series C
Toss Business, which works in superapp platform services in Seoul, raised $48M in a Series C round announced on 9 Mar 2017, led by Goodwater Capital. 5 firms took part. It is Toss Business' second venture round on record; the one before was a Series B in Sep 2016.
$48M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Toss Business did not disclose a valuation in this round. It came 6 months after Toss Business' Series B. It is 7.7% of the $626M Toss Business has raised in the venture rounds on record. Toss Business raised again 21 months later: a Growth round of $80M in Dec 2018, at $1.20B 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 this round 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 led the round with 4 other firms.
Lead investor
- Goodwater Capital backs 162 venture-backed companies new investor
Also in the round
- PayPal Holdings, Inc. new investor
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- backs 81 venture-backed companies new investor
- backs 182 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, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $23M, and this round was 2.1 times the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 3 Apr 2017 | $15M | not disclosed | VEF |
| Payment Processing & Point of Sale | 31 May 2017 | $12M | not disclosed | Napier Park Global Capital and Recruit Holdings Co, Ltd |
| Payment Processing & Point of Sale | 11 May 2016 | $23M | not disclosed | Yttrium and Metro Group |
| Payment Processing & Point of Sale | 12 Feb 2018 | $71M | not disclosed | Premji Invest |
| Tipalti Payment Processing & Point of Sale | 13 Feb 2018 | $30M | not disclosed | Zeev Ventures |
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 C round?
Toss Business raised $48M in its Series C round, announced in Mar 2017.
Who led Toss Business' Series C round?
Goodwater Capital led it, with PayPal Holdings, Inc., Bessemer Venture Partners, Altos Ventures and Partech.
What was Toss Business' valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
5 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $23M, and this round was 2.1 times the median.
Did Toss Business raise again after this round?
Yes: a Growth round in Dec 2018 of $80M at $1.20B post-money.