Latin American accounts receivable SaaS platform Toku has secured $48 million in a Series A funding round led by Oak HC/FT.
Existing investors, including Gradient Ventures (part of Google’s investment funds), F-Prime, Clocktower, Y Combinator, and Honey Island by 4UM, also participated in this round. With this latest funding, Toku’s total capital raised now stands at $55 million.
Toku’s software integrates companies’ ERPs with banks and payment systems, facilitating orchestration and automated collections. Its offerings include customizable payment portals, automated reconciliations, and optimized collection strategies.
The company primarily targets Mexico, Brazil, and Chile, catering to mid-market and enterprise businesses across sectors such as insurance, credit, education, real estate, and utilities, managing collections ranging from $10 million to $10 billion.
With a workforce of over 150 employees and serving more than 450 enterprises—including notable clients like Chevrolet, Mapfre, Liverpool, and MetLife—Toku more than doubled its revenue in 2024.
Cristina Etcheberry, CEO of Toku, stated: “Latin America still heavily relies on manual and inefficient payment collection processes, creating challenges for businesses and frustrating customers. These outdated methods lead to high delinquency rates and unnecessary friction. This latest investment round further validates the demand for Toku’s solutions, and we are excited to extend our technology to more companies and regions.”