What is Toss?
Toss is a transformative fintech service that has redefined the consumer finance experience in Korea. Founded in 2011 by Seung-Gun Lee, the platform addresses the inefficiencies of legacy banking systems by offering a frictionless, mobile-centric interface for borrowing, bill payments, and peer-to-peer transactions. By simplifying complex financial tasks, Toss has successfully captured a significant user base, positioning itself as an essential utility for daily financial management. The company's business model focuses on high-frequency engagement, leveraging technology to provide a seamless, integrated financial hub that serves millions of users across diverse demographics.
How much funding has Toss raised?
Toss has raised a total of $1.2B across 7 funding rounds:
Series B
$23.7M
Series C
$48M
Series D
$40M
Other Financing Round
$80M
Other Financing Round
$173M
Unspecified
$410M
Series G
$405M
Series B (2016): $23.7M with participation from Goodwater Capital, Altos Ventures, and Qualcomm Ventures
Series C (2017): $48M led by Partech, Altos Ventures, Tekton Ventures, and Goodwater Capital
Series D (2018): $40M supported by Altos Ventures, Goodwater Capital, Bessemer Venture Partners, and Sequoia Capital China
Other Financing Round (2018): $80M featuring Altos Group Ventures, Qualcomm, Partech, Bessemer Venture Partners, PayPal, KTB Network, Ribbit Capital, Kleiner Perkins, Novel Capital, and Goodwater Capital
Other Financing Round (2020): $173M backed by Goodwater Capital, Sequoia Capital China, Greyhound Capital, Altos Ventures, Kleiner Perkins Digital Growth Fund, and Aspex Management
Unspecified (2021): $410M with participation from Korea Development Bank, Alkeon Capital Management, Greyhound Capital, and Altos Ventures
Series G (2022): $405M led by Korea Development Bank, Goodwater Capital, Altos Ventures, and Tonic Private Equity
Key Investors in Toss
Goodwater Capital
A consumer tech investment firm that empowers exceptional entrepreneurs to create positive change, focusing on innovative companies across financial services, retail, and healthcare.
Altos Ventures
A Silicon Valley-based venture capital firm that invests in early to growth-stage technology companies, typically serving as a long-term institutional partner.
Korea Development Bank
A wholly state-owned policy development bank in South Korea, dedicated to financing major industrial projects and fostering the competitiveness of strategic national industries.
What's next for Toss?
With the support of its latest strategic investment, Toss is well-positioned to accelerate its product roadmap and deepen its market penetration. The company is expected to focus on expanding its suite of financial products, potentially integrating more advanced wealth management and insurance services into its existing mobile architecture. As it moves into its next phase of growth, Toss will likely prioritize operational efficiency and the continued enhancement of its user experience to maintain its leadership in the competitive Korean market. The ongoing commitment from its core investor base suggests a long-term strategy aimed at sustained innovation and potential regional expansion, further cementing its status as a cornerstone of the modern digital economy.
See full Toss company page
