The software company expects to reach more than 600 corporate clients throughout the region during 2024.
TOKU, a software and consulting platform for collecting recurring payments, raised a Series A round for US$9.3 million, led by Gradient Ventures and in which the Mexican fund Wollef also participates. The company will use the capital to accelerate its growth in Mexico, strengthen its leadership position in Chile, and expand operations in Brazil. The company expects to reach more than 600 corporate clients during 2024
This round was led by the San Francisco-based fund, Gradient Ventures, which seeks to invest in the next generation of companies with a strong use of Artificial Intelligence.
This series A also had the participation of F-Prime, Clocktower, Y Combinator, Funders Club and Wollef, the Mexican fund founded by Eric Pérez-Grovas and Cristóbal Perdomo. The company is constantly increasing its revenue, at an average rate of 70% per quarter.
Toku is a company that mixes software with personalized consulting to optimize collection management for companies that have recurring payments, such as insurance companies, credit companies, telecommunications, basic services, education, subscriptions, among others.
The platform allows you to increase and automate collection at a lower cost and efficiently, by managing the entire collection cycle, from contact with the client, payment alternatives, to the detection of late payment and payment recovery, without neglecting to provide a better payment experience for end users.
“Historically, collection has been a challenge for companies in Latin America, beyond the technological revolution of recent years, manual and inefficient collection with high costs has led the region to have one of the highest collection rates. rejected payments.
At TOKU we seek to solve this problem through technology that streamlines payment options, providing a SaaS solution for intelligent and efficient collections, along with reportability and accounting management,” comments Cristina Etcheberry of Toku.
“ Talking with several companies in the market we identified a constant: they do not have sufficient tools to achieve successful collections. As TOKU, we focus on satisfying a real need: that money reaches the bank account every month, at the lowest possible cost and giving the best payment experience to customers.
We want to give peace of mind, to be a partner to whom they can delegate their income knowing that everything will be fine with the highest security standards, ” says Etcheberry from TOKU.
“As digital commerce in Latin America grows rapidly, businesses and consumers face challenges in payment processing and communications.
Toku offers world-class payments technology with a high-level customer experience for businesses of all sizes and industries,” said Zachary Bratun-Glennon, General Partner at Gradient Ventures. “We are honored to partner with the Toku team and are excited about future products in development.”
With this financing, Mexico gains prominence in its plans, since it arrives with the objectives of hiring more people and developing other products for the Mexican market.
"These strategic moves will allow us to better serve our clients and further solidify Toku's position as a leader in the financial technology industry," completes Etcheberry.
Toku was founded in 2020 and began operations in Mexico in 2023 after closing a seed round for US$ 7 million. It was founded by Cristina Etcheberry (CEO), a Chilean engineer specialized in the product area with experience in LATAM Airlines; Francisca Noguera (CRO) former Banco Falabella and whose experience focuses on the financial world and the B2B commercial area; and Enzo Tamburini (CTO), industrial engineer specialized in programming.
