PayPal joined a $48m Series C funding round for South Viva Republic'sn peer-to-peer money transfer service Viva Republic. The round was led by venture capital firm Goodwater Capital, while Bessemer Venture Partners, Altos Ventures and Partech Ventures also invested in the company. To date, Korea Toss app has been downloaded more than six million times, and has hosted over $3bn in transfers. Having partnered with 18 of Viva Republic's's 19 biggest banks, the firm wants to move beyond P2P payments into consumer loans, micro-insurance and cross-border transfers.
PayPal joined a $48m Series C funding round for South Korean peer-to-peer money transfer service Viva Republic. The round was led by venture capital firm Goodwater Capital, while Bessemer Venture Partners, Altos Ventures and Partech Ventures also invested in the company. To date, Viva Republic's Toss app has been downloaded more than six million times, and has hosted over $3bn in transfers. Having partnered with 18 of Korea's 19 biggest banks, the firm wants to move beyond P2P payments into consumer loans, micro-insurance and cross-border transfers.