The super app also intends to expand in India.
Toss is owned by Viva Republica, one of South Korea’s most valuable fintech start-ups, which is seeking to raise US$1 billion ($1.3 billion) from its international investors in the 2Q2022.
The start-up is backed by Singapore’s sovereign wealth fund GIC, Paypal and Sequoia Capital China.
Some of NASDAQ-listed Grab’s investors include Singaporean state holding company Temasek Holdings and Softbank.
See also: Malaysia’s largest fintech TNG Digital becomes unicorn, mulls IPO, says shareholder CIMB
On March 15, the GoTo group announced its intention to carry out an initial public offering (IPO) on the Indonesia Stock Exchange (IDX). The IPO is expected to raise proceeds of at least IDR 15.2 trillion (US$1.1 billion or $1.5 billion).
