As the economic downturn looms, venture funding for startups has shrunk globally in the last quarter of 2022. The Korean government is working hard to support startups in the country through ventures such as easing regulations for funders and starting new government support funds. The South...
Unicorn startup
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Korean unicorn startup Megazone Cloud Corp., a leading managed cloud service provider (MSP), attracted 450 billion won ($343 million) Series C investment from MBK Partners and IMM Private Equity. The latest investment makes Megazone Cloud’s value 2.4 trillion won. The investment gives MBK and...
Viva Republica’s digital banking venture Toss Bank gets final nod; starts business in September
Korean unicorn startup Viva Republica is all set to enter the banking sector. Its subsidiary Toss Bank, the country’s third internet bank, obtains license approval from the Financial Services Commission (FSC). Toss Bank is expected to officially launch at the end of September through the Toss...