Fintech company Viva Republica, operator of Toss, is gearing up for its upcoming initial public offering (IPO) and has finalized its choice of underwriters. Korea Investment &Securities and Mirae Asset Securities will serve as the lead underwriters, while Samsung Securities will act as the co-underwriter. During the underwriter selection process, various securities firms reportedly proposed an enterprise value for Toss ranging between 15 to 20 trillion won, sparking industry discussions about the perceived high valuation. Toss was valued at 8.5 trillion won in its last Series G round of funding.
The anticipated IPO is slated to occur in the coming year, with Toss expressing its intention to proceed only when a valuation aligned with market conditions is deemed acceptable following a meticulous evaluation.
Founded in 2013, Viva Republica originated as a fintech startup providing a straightforward remittance service. Over the years, it has evolved into a comprehensive financial platform, expanding its offerings to include affiliates such as Toss insurance, Toss payments, Toss securities, and Toss Bank.
