Toku, a Chile-based platform that optimizes collections for subscription companies, has announced that it has raised $7.15 million in a seed round led by F-Prime Capital, Honey Island, and Wollef. Previous investors FundersClub, Clocktower, and Angel Investors Matías Muchnik (NotCo), Sebastián Kreis (Xepelin), Santiago Lira (Buk), and Daniel Guajardo (HealthAtom) also participated in the round. This new funding will enable Toku to expand its services throughout Latin America, with a goal of serving 50,000 companies and over 100 million final consumers.
Toku was founded in 2020 with a mission to revolutionize the way companies collect payments in Latin America. The company is focused on the collection management process for subscription-based companies, providing intelligent payment optimization software that solves the problem of manual and inefficient collection in the region. Toku’s SaaS platform is designed to streamline payment collection for subscription-based companies, offering companies full control over their collection process, including the ability to use their own brand image and offer a comprehensive payment solution to their customers.
With this latest investment, Toku is poised to continue revolutionizing the way companies collect payments in Latin America. The company’s main focus for investment and expansion is in Mexico, one of its most important markets. Toku plans to develop new offerings, improve existing products, and reach new customers in Mexico, as well as prepare to open new markets in Brazil, Colombia, and Peru. The company also plans to begin a discovery process in new countries throughout the region.
Toku has experienced significant growth in just over a year, increasing its revenue by over 7 times and opening a new market in Mexico. Renowned companies such as Security SAT and Essbio have already adopted Toku’s solutions with great results.
“We are thrilled to have the support of such a strong group of investors as we continue to expand our services throughout Latin America,” said Cristina Etcheberry, Co-Founder & CEO of Toku.
“With this new funding, we will be able to accelerate our growth and help more companies in the region streamline their payment collection process. We are excited to continue developing new offerings and reaching new customers, and we look forward to the opportunities that lie ahead.”
Overall, Toku’s seed round investment will allow the company to accelerate its expansion plans and provide more efficient payment collection solutions to subscription-based companies throughout Latin America. With its innovative software and a strong focus on customer satisfaction, Toku is poised for continued growth and success in the region