Super app Toss operator Viva Republica's H1 net income up 120 pct on-year

Viva Republica Inc., the South Korean operator of the Toss app, reported a remarkable surge in its first-half net income, climbing 120.2% compared to the previous year. The company's consolidated net income for the January-June period amounted to 232.8 billion won (US$164.6 million), as per their regulatory filing. Operating profit reached 246.1 billion won, marking a substantial 59.2% increase.

Revenue grew 53.2% year-on-year to 1.89 trillion won. The super app service, encompassing money transfers, investments, loans, and tax services, generated 1.3 trillion won, comprising 70.3% of total sales. The payment network service unit, including mobile payments, recorded 561.3 billion won in sales. With over 7 million subscribers by July, Viva Republica is reportedly preparing for a U.S. stock market listing, though no specific timeline has been announced.