Toss Invests 6 Billion KRW in U.S. Private Stock Trading Platform
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[Asia Economy Reporter Lee Seon-ae] Viva Republica, the operator of Toss, is making an equity investment in Republic, a US-based private stock investment platform. This marks Toss's first overseas investment. Since last year, Toss has successfully acquired LG Uplus's electronic payment (PG) division, acquired Tada, and invested in Cafe24 shares.
A Toss representative stated, "We recently completed an equity investment by acquiring approximately 1% of Republic's shares for $5 million (about 6 billion KRW)," adding, "The purpose of the investment is to secure potential business partnership opportunities related to overseas private stock investments," on the 23rd.
Republic is a platform established in the US in 2016 that intermediates investments so that anyone can invest in promising startups and private companies.
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To date, the platform has attracted 1 million investors and completed over 500 investment contracts. The total investment amount conducted on the platform is approximately $500 million.
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