Toku, a platform based in Santiago, Chile, has secured $7.15 million in a seed round of funding. The company provides intelligent payment optimization software for subscription-based companies that streamlines collection management. The round was led by F-Prime Capital, Honey Island, and Wollef, with participation from previous investors, including FundersClub, Clocktower, and Angel Investors Matías Muchnik, Sebastián Kreis, Santiago Lira, and Daniel Guajardo.
Toku aims to offer subscription companies a comprehensive payment solution that enables them to have full control over their collection process while using their own brand image. The company has grown significantly since its launch in 2020, increasing its revenue by over seven times and expanding into the Mexican market. Renowned companies such as Security SAT and Essbio have already adopted Toku’s solutions with excellent results.
Toku was founded with the objective of providing subscription-based companies with a streamlined and intelligent software solution for managing collections. The company’s CEO, Cristina Etcheberry, stated that the latest investment would enable Toku to continue revolutionizing the collection management process in Latin America. She also mentioned that their primary focus for investment and expansion would be Mexico, one of their most critical markets. The company plans to develop new offerings, enhance existing products, reach new customers, and hire more talent. Moreover, Toku aims to expand to new markets in Brazil, Colombia, and Peru while exploring opportunities in other countries in the region.
Toku’s SaaS platform enables companies to have full control over their collection process, including the ability to use their brand image and provide a comprehensive payment solution to their customers. The platform offers subscription companies an automated and efficient way to collect payments, solving the problem of manual and inefficient collection in Latin America. The company has achieved significant growth in just over a year, increasing its revenue by over seven times and expanding to the Mexican market. Renowned companies such as Security SAT and Essbio have already adopted Toku’s solutions with great results.
In summary, Toku’s successful seed round funding and its plans to expand its services to new markets in Latin America reflect its dedication to revolutionizing the collection management process for subscription-based companies in the region. Its automated and intelligent software solution is expected to enable companies to streamline their collection processes, improve their customer experiences, and increase their revenues.
