PayPal recently invested $48 million in Viva Republica, the South Korea-based fintech company behind a financial services app called Toss.

PayPal was one of several companies that participated in the funding round, which was led by venture capital firm Goodwater Capital. Viva Republica has raised $76 million to date, according to a report from TechCrunch.

"[There's] a clear path to it becoming one of Asia's most significant fintech unicorns," Eric Kim, a Goodwater Capital partner, told TechCrunch in a statement.