South Korean e - payment app Toss has raised $ 80 m in a funding round led by Kleiner Perkins and Ribbit Capital , bringing its valuation to $ 1.2bn . The Viva Republica CEO said that Vietnam could be a first overseas launchpad for Toss. The app , which is developed by mobile payments start - up , Republica , allows users to transfer up to KRW500,000 ( $ 430 ) with just one password and three simple steps , and now offers features such as banking , insurance and investments from 25 banking institutions . The company has over 10 million registered users of Toss , representing 10 % of South Korea 's population , and is expecting to reach $ 18bn of transactions in total .
South Korean e - payment app Toss has raised $ 80 m in a funding round led by Kleiner Perkins and Ribbit Capital , bringing its valuation to $ 1.2bn . The app , which is developed by mobile payments start - up , Republica , allows users to transfer up to KRW500,000 ( $ 430 ) with just one password and three simple steps , and now offers features such as banking , insurance and investments from 25 banking institutions . The company has over 10 million registered users of Toss , representing 10 % of South Korea 's population , and is expecting to reach $ 18bn of transactions in total .