Toss CEO SG Lee. Photo credit: Viva Republica/Toss

Viva Republica, the South Korean company behind popular payments app Toss, has raised $173 million in new funding led by Sequoia Capital China, with participation from investors including Kleiner Perkins, Altos Ventures, Goodwater Capital, and Greyhound Capital. The new funding adds up the total amount of funding that Toss has raised since its inception to $530 million and values the company at $2.6 billion.

The new funding comes five years after Toss’s launch. Since its launch, Toss has seen huge success, currently with 17 million registered users, according to a press statement from the company. Based out of Seoul, South Korea, Toss currently employes more than 200 persons.