South Korean payment services startup Toss has raised $80 million in a funding round at a $1.2-billion valuation, entering South Korea’s billion-dollar club. The round was led by US-based Kleiner Perkins and Ribbit Capital, and existing investors Altos Ventures and PayPal also participated. Toss was launched as a peer-to-peer payment service in 2015 by former dentist SG Lee.

This short was originally published on Inshorts, based on an article in TechCrunch.