– The company plans to use the capital to accelerate growth in Mexico, strengthen its leadership position in Chile, and expand operations in Brazil, aiming to reach over 600 corporate clients in 2024.
– Toku’s revenue has been growing consistently at an average rate of 70% per quarter.
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The platform combines software with personalized consulting to increase and automate collections at a lower cost and more efficiently.
Toku manages the entire collection cycle, from customer contact and payment alternatives to detecting delinquency and recovering payments, while providing a better payment experience for end-users.
Cristina Etcheberry, CEO of Toku, stated, “Historically, collection has been a challenge for companies in Latin America. Manual and inefficient collection with high costs has led the region to have one of the highest rates of rejected payments. At TOKU, we seek to solve this problem through technology that streamlines payment options, providing a SaaS solution for intelligent and efficient collection, along with reporting and accounting management.”
With this funding, Toku plans to hire more people and develop additional 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 fintech industry,” added Etcheberry.
Founded in 2020 by Cristina Etcheberry, Francisca Noguera, and Enzo Tamburini, Toku began operations in Mexico in 2023 after closing a $7 million pre-seed round.
The company offers customized payment solutions for industries with recurring payments, enabling companies to increase revenue while minimizing costs through efficient payment processing and enhanced customer experiences.
Toku currently operates in Mexico, Chile, and Brazil, and is committed to transforming the financial landscape in Latin America.
The company expects to reach over 600 corporate clients during 2024, with revenue growing at an average rate of 70% per quarter.
