Toku, a Chile-based accounts receivable software program platform, introduced at this time it has raised US$48 million in Collection A funding, bringing its whole funding to US$55 million.
The fundraise marks the biggest Collection A spherical raised by a feminine founder in Latin America, led by Toku’s CEO, Cristina Etcheberry.
The spherical was led by Oak HC/FT, marking the agency’s fourth fintech funding within the area over the previous three years.
Current traders, together with Gradient Ventures, F-Prime, Clocktower, Y Combinator and Honey Island by 4UM, additionally took half within the spherical.
Toku’s platform integrates with firms’ enterprise useful resource planning methods, banks and fee rails, serving to automate collections and handle fee processes.
The corporate’s suite gives instruments comparable to configurable fee portals, automated reconciliation and assortment optimisation.
In a area the place computerized fee adoption stays restricted, Toku has elevated using automated fee strategies from ten % to ninety % for its purchasers, which the corporate says helps enhance income efficiency.
By utilizing real-time information, Toku’s system goals to automate the complete fee cycle, from fee technique choice to buyer communication.
The corporate focuses on Mexico, Brazil and Chile, supporting mid-sized to giant enterprises in industries comparable to insurance coverage, credit score, training, actual property and utilities.
Its purchasers handle collections that vary from US$10 million to US$10 billion.
The brand new capital might be used to strengthen Toku’s present go to market technique and velocity up product improvement.
In keeping with the corporate, it greater than doubled its income in 2024, tripled its whole fee quantity and recorded a web greenback retention price of 160 %.
“Latin America nonetheless closely depends on guide and inefficient fee assortment processes, creating challenges for companies and irritating prospects,”
mentioned Cristina Etcheberry, CEO of Toku.
“These outdated strategies result in excessive delinquency charges and pointless friction. This newest funding spherical additional validates the demand for Toku’s options, and we’re excited to deliver our expertise to much more firms and areas,” added Etcheberry, who grew up in Chile in an entrepreneurial and finance-focused household.
Toku was based to assist Latin American companies scale back their reliance on guide processes, outdated methods and inflexible software program.
The corporate says its intention is to make sure income is collected reliably and affordably, whereas additionally enhancing the fee expertise for patrons.
Featured picture credit score: edited from freepik
