After a 26.5 billion won ($22.5 million) investment last year, Viva Republica plans to launch new financial services such as loans, overseas remittances and donations via Toss. The rest is history: Sales exploded from 980 million won ($832,000) in 2013 to 31.8 billion won ($27 million) in 2015. Last year, subscribers topped 8 million as the startup grabbed a hefty 50 billion won ($42.4 million) investment from local private equity firm IMM. It’s a young but fast-rising competitor among Korea’s advanced technology startups, backed by 8 billion won ($6.8 million) in investments. The startup estimated 1 billion won ($850,000) revenue last year and is valued at $15 million.

Source: Forbes January 17, 2017 07:20 UTC