The investment will go toward expanding into new areas, including online stock trading. South Korean dentist Dr. Lee Seung-gun founded Toss in in 2015 as a peer-to-peer payment app. He quickly began to expand the app’s reach to include financial services, such as credit scoring and insurance.
Dr. Seung-gun now wants the app to transform into a securities broker. After the funding round, Toss was valued at $1.2 billion. Toss has secured backing from PayPal.
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