Viva Republica, a Fintech startup that operates Toss, has decided to pay 180 employees 5,000 stock options worth $ 88,200 USD (100M KRW) and raise their annual salary by 50% by the end of this month.
Half of the stock options can be exercised two years later and entire the stock options can be exercised four years later.
Employees that will be recruited will also be paid 5,000 shares of stock, but after a probation period. Toss currently plans to increase its staff from 180 to 300.
“I think it is a second startup and I have come up with an incentive policy to secure talented people”
CEO Lee Seung-gun
Toss currently has 11 million subscribers and has surpassed $26.4B USD (30T KRW). Viva Republica attracted $79.4M USD (90B KRW) worth of investment from US venture capital, Kleiner Perkins, and others last month, making it a unicorn that is worth more than $0.88B USD (1T KRW).