Viva Republica Prepares ESG Ahead of U.S. Listing
Hey FinTech Fanatic!
Viva Republica, the South Korean FinTech behind Toss, is resuming steps toward a U.S. stock market debut. The company is targeting a listing on the Nasdaq or NYSE with a potential valuation of 10 trillion won, around $7.24 billion.
As part of what may be IPO preparations, Viva Republica has created a new ESG role. The FinTech company is hiring a project manager to lead its environmental, social, and governance strategy, a move seen as aligning with expectations from foreign investors.
The new hire will be responsible for designing Toss’s ESG strategy, drafting sustainability reports, and ensuring alignment with global frameworks such as SASB and TCFD. For now, the role will be managed by one person, and its departmental placement remains undecided.
The move follows guidance from Nasdaq, which stated: “A lack of ESG information is considered a risk and may become a reason for investors to avoid the company.” For Nasdaq, ESG disclosures are not mandatory but are increasingly viewed as essential in cross-border listings.
Toss had originally planned a domestic IPO but canceled it, citing concerns around valuation and the lack of comparable FinTech peers. KakaoBank and KakaoPay, two of South Korea’s largest FinTech IPOs, have seen their share prices fall 70% to 80% since 2021.
The U.S. listing is planned for late 2025 or early 2026.
Read more global FinTech industry updates below 👇 and I'll be back with more on Monday!
Cheers,
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