The dad or mum firm of Toss Financial institution, Viva Republica, is about to have an IPO within the US in 2026, at a valuation of between $10 billion and $15 billion.
The IPO plans to lift $2 billion to $3 billion, and a pre-IPO marketplace for this inventory is already stay forward of the deliberate itemizing.
Toss Financial institution had initially deliberate to have the IPO in South Korea in 2025, however later modified tone, saying it desires to broaden its presence to the US and different nations.
What’s Toss Financial institution?
Toss Financial institution is the primary subsidiary of Viva Republica. It began as an app to facilitate monetary transactions, nevertheless it has since developed right into a platform that provides inventory buying and selling and banking companies.
The Toss banking app launched in 2013, and it already has 28 million customers per the Korea Herald, which is 52% of South Korea’s whole inhabitants of $51.6 million.
Toss additionally has 19 million lively customers each month and 100,000 enterprise clients.
The corporate can also be dipping its toes within the blockchain area after CoinGape reported that Toss Financial institution has partnered with the Solana Basis to facilitate cross-border remittances.
This partnership might make Toss Financial institution one of many crypto shares that traders can be watching after the IPI occurs.
IPO Valuation and Goal Elevate
Toss Financial institution has launched minimal particulars about its upcoming IPO, with an official from the corporate saying “no particular plans or timeline have been set.”
Nevertheless, Reuters reported that the corporate has a valuation of greater than $10 billion, and this might even improve to $15 billion by the date of the IPO if the market situations are favorable.
The IPO is planning to lift between $2 billion and $3 billion for the corporate, and if it achieves this goal, the Toss Financial institution IPO will turn into one of many greatest accomplished by a South Korean Firm within the US.
E-commerce agency Coupang presently holds the document of getting the most important Korean IPO on US exchanges after it went public in 2021 and raised $4.6 billion.
The Monetary Outlook
Toss Financial institution’s dad or mum firm, Viva Republica, posted its first revenue of $62 million in 2024. That very same yr, the corporate’s annual income reached $1.4 billion per the Korea Instances.
The newest monetary outcomes for the corporate have been these launched in 2025, the place the income got here in at $1.8 billion, and the online revenue soared to $131.8 million, marking the very best yr for the corporate since launching in 2013.
Toss Financial institution has already carried out eight non-public funding rounds between 2016 and 2022. The newest one occurred in December 2022, and the corporate raised $410 million
Toss Financial institution’s Pre-IPO Inventory Technical Evaluation
The one individuals who presently maintain Toss shares are staff and those that participated within the non-public funding rounds, and they’re buying and selling their shares in pre-IPO markets.
Discover reveals the Toss financial institution pre-IPO inventory is buying and selling at $21 immediately, June 22. The inventory has dropped by 74% since January 2022, when it traded at $81.
The drop that’s taking place months earlier than the anticipated US IPO itemizing has pushed the Toss Financial institution pre-IPO inventory under the 200-day EMA degree of $23, and this means that the long-term outlook is leaning in favor of bears.
The decrease Bollinger band of $20.98 is presently the help degree, with a transfer under set to speed up the downtrend.
The present pre-IPO inventory worth of $21 may not be the precise worth that the corporate’s shares will commerce without delay the IPO occurs. This was seen with the SpaceX IPO, the place the area firm opened buying and selling at $150, decrease than the pre-PO worth of $176 on Coinbase.
Can Retail Traders Purchase Toss Earlier than the IPO?
Retail traders can’t purchase the Toss pre-IPO inventory as a result of it’s presently accessible on platforms like Discover, Hiive, EquityZen, and Forge International which are solely open to institutional or accredited traders.
Crypto exchanges like Binance and Coinbase which are open to retail merchants have expanded their footprint into the Pre-IPO market, however they’ve but to record Toss Inventory.
Retail traders have the choice to attend and see whether or not a retail-friendly firm goes to record the Pre-IPO inventory or wait to purchase as soon as the IPO occurs.
