Singapore sovereign wealth fund GIC and venture investor Sequoia Capital China have together invested $40 million in the funding round of Seoul-based Viva Republica, the parent of financial services app Toss, as per an announcement on Monday.
The investments brings Viva Republica’s total funding raised to $116 million. The funding also marks GIC’s first investment in a Korean startup. And, for Sequoia China, the deal would be its first in a Korean firm.
