2 days ago
Toss logs 35% revenue jump in H1
Viva Republica, operator of Korean fintech giant Toss, reported a first-half consolidated revenue of 1.24 trillion won ($913 million), up 35 percent from a year earlier and topping the trillion-won mark for the first time in its decade-long history.
Net profit reached 105.7 billion won in the first six months, swinging from a loss of 20.1 billion won a year earlier and marking its first half-year in the black. The gain extends the company's margin expansion since its first full-year profit in 2024.
'Both consumer and merchant services, the two main pillars of our business, have grown and are beginning to show synergy through our super-app strategy,' the company said.
Toss offers transfers, banking, securities, payments, tax and commerce services on a single platform. Its user base has continued to expand, recently reaching 30 million cumulative accounts — about 60 percent of South Korea's population.
Viva Republica said the larger user pool has driven revenue growth across the business.
The consumer division, accounting for 65 percent of revenue, generated 802.1 billion won in the first half. The merchant division contributed 433.3 billion won, with corporate customers steadily increasing. This segment covers all corporate services, including offline payment terminals from subsidiary Toss Place and online payment gateway services from Toss Payments.
In the second quarter alone, consolidated revenue jumped 41 percent on-year to 668 billion won. Operating profit reached 84 billion won, while net income rose to 57 billion won.
Viva Republica credited broad-based sales growth across the platform and stronger profitability for the results. 'Revenue growth outpaced cost increases, making the operating leverage effect more pronounced,' the company said. 'This reflects not just an expansion in scale but sound growth underpinned by stronger profitability.'
