Chilean FinTech Toku announced its seed round of USD $7M, to consolidate its operation in Mexico, invest in growth and continue expanding through the LatAm market.
The round was led by the North American venture capital F-Prime Capital, accompanied by Honey Island by 4UM and Wollef , along with previous investors such as FundersClub and Clocktower.
In addition to individual investors such as Matías Muchnik (NotCo), Sebastián Kreis (Xepelin), Santiago Lira (Buk), and Daniel Guajardo (HealthAtom).
Toku was founded in September 2020, in Santiago de Chile, by Cristina Etcheberry (CEO), Francisca Noguera (CRO), and Enzo Tamburini (CTO), with the aim of solving the pain of management and collection management for companies with payments subscription, providing software that intelligently optimizes collection and collection, where companies do so with their own brand image, full control over the process, and offering a comprehensive payment solution for their customers.
Toku offers a SaaS platform designed to streamline payment collection for subscription-based companies.
In 2022 alone, the Chilean startup increased its revenues by more than 7 times, multiplied its POS (Total Payment Volume) 25 times, grew by 662%, and opened a new market: Mexico. Likewise, the team grew considerably, going from 8 to 60 tokus.
With this investment, Toku will strengthen its presence in Mexico, enhance its product offerings, expand its customer base, recruit more skilled personnel, and explore new markets in Latam.
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