Viva Republica, operator of the South Korean digital wallet Toss, has raised $80 million from investors including Kleiner Perkins to propel its expansion into new areas such as online stock trading.

Launched as a peer-to-peer payment app in 2015 by former Samsung Group dentist Lee Seung-gun, Toss expanded into a plethora of financial services from credit scoring to insurance and now wants to become a securities broker. Its latest round of funding also involved Ribbit Capital and valued the company at $1.2 billion, the Seoul-based start-up said in a statement.

Read more at Bloomberg.