Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Private Capital Markets

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<p>In this insight, we provide details of Toss Bank, which received the final approval from the Korean government (Financial Services Commission) today to become the<strong> third Internet bank in Korea.</strong> The leading players in the online banking sector in Korea include KakaoBank and K-Bank. </p>
<p><a href="http://www.koreaherald.com/view.php?ud=20210609000967" target="_blank" rel="noopener"><strong>Toss Bank</strong></a> is owned by Viva Republic, which is well-known as an operator of the fintech app Toss, which already has about 20 million users. It is expected that the Toss Bank will be launched in September 2021. Toss Bank will focus on expanding loans to people with mid-range to low credit scores in Korea. </p>
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In this insight, we provide details of Toss Bank, which received the final approval from the Korean government (Financial Services Commission) today to become the third Internet bank in Korea. The leading players in the online banking sector in Korea include KakaoBank and K-Bank. 
Toss Bank is owned by Viva Republic, which is well-known as an operator of the fintech app Toss, which already has about 20 million users. It is expected that the Toss Bank will be launched in September 2021. Toss Bank will focus on expanding loans to people with mid-range to low credit scores in Korea. 


Toss Bank - Receives Final Govt Approval to Become the 3rd Internet Bank in Korea

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<li>In this insight, we provide details about <a href="https://www.smartkarma.com/entities/viva-republica-ltd" target="_blank" data-smartkarma-citation="entities:28972" rel="noopener">Viva Republica (TOSS KS)</a> , which is the largest "pure-play" fintech company in Korea. Toss was originally launched in 2015 as a peer-to-peer payments app. Viva Republica is the first and only fintech unicorn in Korea right now.</li>
<li>Viva Republica's Toss product had about 10 million monthly active users (MAU), 16 million registered users, and achieved its first-ever operating break-even in April 2020. Toss generated sales of <a href="https://www.kapronasia.com/asia-banking-research-category/south-korea-s-toss-records-first-ever-profit-amid-pandemic.html" target="_blank" rel="noopener">14 billion won</a> in April 2020 (up from 9.8 billion won in April 2019). It is estimated that Toss currently handles about 4.5 trillion won ($3.7 billion) of transactions a month. It processed about 9% of total online transfers in Korea in 2019.</li>
<li>The company's long-term goal is to become the most widely used and profitable financial app in Korea. The company is benchmarking other global fintech giants such as Paypal, Robinhood Markets, and Credit Karma in terms of aggregating various financial services into one app platform. Toss is also seeking to expand in other countries, including Vietnam, other Asean countries, and Japan. </li>
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In this insight, we provide details about Viva Republica (TOSS KS) , which is the largest "pure-play" fintech company in Korea. Toss was originally launched in 2015 as a peer-to-peer payments app. Viva Republica is the first and only fintech unicorn in Korea right now.
Viva Republica's Toss product had about 10 million monthly active users (MAU), 16 million registered users, and achieved its first-ever operating break-even in April 2020. Toss generated sales of 14 billion won in April 2020 (up from 9.8 billion won in April 2019). It is estimated that Toss currently handles about 4.5 trillion won ($3.7 billion) of transactions a month. It processed about 9% of total online transfers in Korea in 2019.
The company's long-term goal is to become the most widely used and profitable financial app in Korea. The company is benchmarking other global fintech giants such as Paypal, Robinhood Markets, and Credit Karma in terms of aggregating various financial services into one app platform. Toss is also seeking to expand in other countries, including Vietnam, other Asean countries, and Japan. 


Viva Republica (Toss) - The Largest Fintech Company in Korea

South Korea

Viva Republica Inc. operates as a mobile electronic financial application development company. The Company provides easy remittance, asset management, loan comparison, and other financial support services. Viva Republica markets its products throughout South Korea.

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Viva Republica (1435310D KS)

Toss Bank - Receives Final Govt Approval to Become the 3rd Internet Bank in Korea

In this insight, we provide details of Toss Bank, which received the final approval from the Korean government today to become the third Internet...

Douglas Kim

Viva Republica (Toss) - The Largest Fintech Company in Korea

In this insight, we provide details about Viva Republica (TOSS KS) , which is the largest "pure-play" fintech company in Korea. Toss was...

Douglas Kim

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