Toss Bank Raises Record 285 Billion KRW in Capital, Valuation Hits 2.4 Trillion KRW

Toss Bank Raises Record 285 Billion KRW in Capital, Valuation Hits 2.4 Trillion KRW

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Toss Bank, a South Korean internet bank, has recently secured 285 billion won in capital through a private placement, marking the largest funding round in the past year and pushing the bank’s valuation to 2.4 trillion won.

This capital infusion will increase Toss Bank’s total paid-in capital to 1.935 trillion won, with approximately 4.384 million common shares issued at a par value of 6,500 won per share.

Toss Bank’s successful fundraising comes as a notable achievement in a challenging market environment characterized by a global recession, high interest rates, and inflation. It reflects the bank’s relatively high valuation and market recognition.

With 7.8 million customers and achieving profitability in July of this year, Toss Bank has expanded its loan portfolio to include secured loans alongside its existing credit loans. The bank has plans to further diversify its offerings in the second half of the year, encompassing foreign exchange and AI services.

Toss Bank intends to leverage this latest capital infusion to further scale its operations. The bank’s financial health has been reinforced, thanks to the trust and support of shareholders like Viva Republica, E-Land, Hana Bank, Altos Ventures, Home&Shopping, Korea Investment & Securities, Hanwha Investment & Securities, and SC First Bank. With the capital increase completed, Toss Bank’s BIS ratio stands at about 13%.

Expressing their gratitude, Toss Bank stated, “We are grateful to our customers and shareholders for recognizing our differentiated value. We remain committed to achieving continued monthly, quarterly, and annual profitability based on our solid performance.”

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