Toku, a fast-growing SaaS platform specializing in accounts receivable automation, has secured $48 million in Series A funding, marking one of the largest Series A rounds ever raised by a female founder in Latin America. This brings the company’s total funding to $55 million.
The round was led by Oak HC/FT, marking their fourth major fintech investment in the LatAm region over the past three years. Existing investors, including Gradient Ventures (Google’s AI-focused fund), F-Prime, Clocktower, Y Combinator, and Honey Island by 4UM, also participated.
Solving LatAm’s Payment Bottlenecks
Toku’s SaaS platform connects enterprise ERPs with banks and payment rails to automate collections and payment orchestration. Its features include customizable payment portals, automated reconciliations, and dynamic collection strategies. In regions like Latin America, where automatic payments have traditionally seen low adoption, Toku boosts automated payment use from 10% to 90%, significantly enhancing revenue and efficiency for businesses.
In 2024, the company doubled revenue, tripled its total payment volume (TPV), and achieved 160% net dollar retention. Toku currently serves over 450 enterprises, including Chevrolet, Mapfre, Liverpool, and MetLife, across Mexico, Brazil, and Chile.
Use of Funds
The new capital will be used to expand Toku’s go-to-market operations and accelerate product development. With a team of over 150 employees, the company continues its mission to modernize financial infrastructure in Latin America.
CEO’s Vision
Cristina Etcheberry, Toku’s co-founder and CEO, emphasized the urgency of digital transformation in LatAm’s financial ecosystem:
“Manual payment processes in Latin America create massive inefficiencies. Toku empowers businesses with automation, helping them reduce delinquency rates and focus on growth.”
Funding Overview
- Amount Raised: $48M
- Round: Series A
- Date: April 2025
- Lead Investor: Oak HC/FT
- Total Funding: $55M
- Website: https://toku.co/