Latin American accounts receivable SaaS platform Toku has raised $48 million in a Series A funding round led by Oak HC/FT.
Existing investors, including Gradient Ventures (one of Google’s investment funds), F-Prime, Clocktower, Y Combinator, and Honey Island by 4UM, participated. This latest injection of capital brings the firm's total funding to $55 million.
Toku’s software connects companies’ ERPs with banks and payment rails, enabling orchestration and automated collections. Its suite includes customisable payment portals, automated reconciliations, and optimised collection strategies.
The company is focused on Mexico, Brazil, and Chile, serving mid-market to enterprise businesses in sectors like insurance, credit, education, real estate and utilities, handling collections from $10 million to $10 billion.
With over 150 employees and serving more than 450 enterprises, including Chevrolet, Mapfre, Liverpool, and MetLife, Toku more than doubled its revenue in 2024.
Cristina Etcheberry, CEO, Toku, says: “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“These outdated methods lead to high delinquency rates and unnecessary friction.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 bring our technology to even more companies and regions."