Toku, a platform seeking to revolutionise the way firms collect payments in Latin America, has scored $7m in a seed funding round.
The raise was led by F-Prime Capital and saw participation from Wollef, Honey Island, FundersClub and Clocktower. A range of angel investors also took part.
Founded in 2020, Toku aims to provide subscription companies with a streamlined, intelligent software solution for collection management.
The platform offers 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. In just over a year, Toku has grown significantly, increasing its revenue by over 7 times, and opening a new market in Mexico.
Toku CEO and co-founder Cristina Etcheberry said, “With this latest investment, we are poised to continue revolutionizing the way companies collect payments in Latin America, with a goal of serving 50,000 companies and more than 100 million customers. Our main focus for investment and expansion is in Mexico, one of our most important markets.
“We’ll be developing new offerings, improving existing products, and reaching new customers, as well as hiring more talent. We’re also preparing to open new markets in Brazil, Colombia, and Peru, and will begin a discovery process in new countries throughout the region.”
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