Yazılar

South Korea’s Toss Targets Global Expansion, Eyes Won-Based Stablecoin

/in /tarafından

South Korean fintech unicorn Toss is preparing a major international expansion, starting with Australia, while also positioning itself to issue a won-based stablecoin once regulations are in place, CEO and founder Lee Seung-gun said on Tuesday.

Founded in 2015, Toss has grown to more than 30 million users in South Korea, showing that a startup can challenge traditional banks and brokers head-on. Lee, a dentist-turned-entrepreneur, said the company’s success at home can be replicated abroad.

“We proved in Korea that a startup can compete head-on with entrenched players. A similar model can work globally, especially in countries where users juggle multiple bank accounts or fintech apps. We want to bring them into one seamless experience,” Lee told Reuters.

Global push begins in Australia

  • Toss has established an Australian unit and aims to launch core services such as peer-to-peer money transfers by year-end.

  • Australia’s fragmented banking system and open-banking rules make it an attractive entry point.

  • Toss is reviewing other markets, with Singapore serving mainly as a regional hub rather than a retail market.

Stablecoin ambitions

Lee confirmed Toss’s intent to issue a digital won stablecoin, pending regulatory approval. South Korea’s government is drafting legislation this year to allow stablecoin issuance under strict oversight and consumer protections.

“We will issue and distribute won-based stablecoin – that I can say for sure,” Lee said, noting Toss is in regular talks with regulators to build the necessary infrastructure.

IPO plans

Toss is also preparing for a U.S. IPO in Q2 2026, targeting a valuation of $10–15 billion, according to earlier reports. If achieved, it would be the largest U.S. listing by a South Korean firm since 2021. Global funds see Toss as one of the few fintechs delivering on the super app model.

Lee emphasized that Toss’s long-term ambition is to become “a global internet company built on financial services”, not just another financial holding firm.

Chinese Robotics Startup Unitree Targets $7B IPO Valuation Amid Tech Push

/in /tarafından

Chinese humanoid robotics firm Unitree Robotics is preparing for a landmark IPO on Shanghai’s STAR Market, seeking a valuation of up to 50 billion yuan ($7 billion), according to sources. The company, founded in 2016 by Wang Xingxing, has gained global attention with viral videos of robots walking, climbing, and carrying loads.

Unitree confirmed last week that IPO preparations are underway, with a formal application expected in Q4, though it disputed reports on the exact valuation. If successful, this would be one of China’s largest onshore tech listings in years, underscoring Beijing’s drive to fund domestic “unicorns” and bolster self-sufficiency in robotics and AI.

The potential listing comes after a funding round in June that included investments from Alibaba, Tencent, and Geely, boosting Unitree’s valuation to 12 billion yuan. Sources say the company is already profitable, with annual revenue above 1 billion yuan, and poised for rapid growth.

Unitree’s IPO plans coincide with China’s heavy investment in robotics and AI to counter U.S. tech rivalry and address an aging population. The humanoid robot industry enjoys strong government subsidies and policy support, making Unitree a likely beneficiary.

The company’s targeted valuation would mark a sharp jump from its last funding round, testing investor appetite for humanoid robotics — a field where China is positioning itself as a global leader.

Databricks Hits $100 Billion Valuation with $1 Billion Raise, Projects $4 Billion Revenue

/in /tarafından

Databricks, the San Francisco-based data analytics and AI firm, announced on Monday that it has closed a $1 billion Series K funding round at a $100 billion valuation, cementing its position as one of the world’s most valuable private companies.

The round was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management. The fresh capital will fuel Databricks’ AI strategy, supporting new product launches, acquisitions, and advanced research.

The company revealed it is now on track to hit $4 billion in annualized revenue, with AI-related products contributing $1 billion. Its customer base has grown to around 15,000 clients, including Shell and Rivian, while its Lakebase data warehouse has already reached tens of millions in annualized revenue just months after launch.

CEO Ali Ghodsi said Databricks will remain cash-flow positive, keeping the option of an IPO open but without a fixed timeline. The company is also investing in Agent Bricks, its new AI platform for building autonomous systems, and recently acquired Tecton, a machine learning startup.

With net revenue retention above 140%, over 650 customers spending more than $1 million annually, and positive free cash flow, Databricks is positioning itself as a leader in the AI and big data race—and a likely candidate for one of the most anticipated IPOs in the sector.