Viva Republica Begins IPO Process

Viva Republica, the company behind the fintech application Toss, has initiated procedures for an initial public offering (IPO). Industry insiders revealed that the company has chosen Korea Investment & Securities and Mirae Asset Securities as lead underwriters.

Valuation Expectations

Securities firms anticipate that Viva Republica’s valuation could reach up to 20 trillion won ($15.1 billion). Considering that IPO prices are typically set with a 20 to 30 percent discount on corporate value, Toss’s market capitalization is likely to fall between 12 trillion and 16 trillion won.

Awaiting Official Announcement

While Viva Republica has not yet released an official statement regarding the IPO, it is projected that the company will make a market debut next year.

Company Overview

Founded in 2013, Viva Republica offers various financial services via its app Toss. This includes the operation of internet-based lender Toss Bank, brokerage branch Toss Securities, and insurance arbiter Toss Insurance.

Profitability Concerns

Despite the app boasting over 10 million monthly active users, the company has reported yearly deficits since its inception. In 2022, Viva Republica recorded a loss of 384 billion won, raising concerns over its profitability.