Funding round
Toss Business Series H+
Reported as "Series H"
Toss Business, which works in superapp platform services in Seoul, raised $410M in a Series H+ round announced on 30 Jun 2021, led by Alkeon, at a $7.40B post-money valuation. 4 firms took part. It is Toss Business' fifth venture round on record; the one before was a Series F in Aug 2019.
$410M
Amount raised
$7.40B
Post-money valuation
4
Investors
1 lead
3.4x
Step-up from the Series F
$2.20B in Aug 2019
5.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Toss Business at $7.40B after the new money, 3.4 times the $2.20B of its Series F (Aug 2019). The $410M bought investors about 5.5% of the company. It came 22 months after Toss Business' Series F. It is 66% of the $626M Toss Business has raised in the venture rounds on record. No later venture round is on record for Toss Business.
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 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+ this round 30 Jun 2021, led by Alkeon $410M$7.40B post-money
Investors
Who put money in
Alkeon led the round with 3 other firms.
Lead investor
- Alkeon backs 51 venture-backed companies new investor
Also in the round
- Korea Development Bank new investor
- backs 81 venture-backed companies new investor
- Greyhound Capital 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
The closest in time: 1 in Payment Processing & Point of Sale, then Series H+ rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Stripe Payment Processing & Point of Sale | 14 Mar 2021 | $600M | $95.00B | Baillie Gifford |
| Renewable energy companies | 30 Jun 2021 | $8.2M | not disclosed | Lightrock |
| Gopuff Groceries | 1 Jul 2021 | $1.00B | $15.00B | not named |
| Olive Tech Companies | 1 Jul 2021 | $400M | $4.00B | Vista Equity Partners and Base10 Partners |
| Databricks Tech Companies | 31 Aug 2021 | $1.60B | $38.00B | Morgan Stanley |
| DailyHunt Tech Companies | 11 Aug 2021 | $451M | $3.00B | not named |
| VerSe Tech Companies | 11 Aug 2021 | $450M | $3.00B | Siguler Guff |
| Learning, Tutoring & Courses | 2 Aug 2021 | $440M | $3.44B | Temasek |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Toss Business raise in its Series H+ round?
Toss Business raised $410M in its Series H+ round, announced in Jun 2021.
Who led Toss Business' Series H+ round?
Alkeon led it, with Korea Development Bank, Altos Ventures and Greyhound Capital.
What was Toss Business' valuation at the Series H+ round?
$7.40B post-money.