Latin American accounts receivable (AR) SaaS platform Toku has secured $48 million in Series A funding to fuel its mission of transforming how businesses in the region manage payment collections. The round was led by Oak HC/FT, with strong support from existing investors including Gradient Ventures (Google’s fund), F-Prime, Clocktower, Y Combinator, and Honey Island by 4UM. With this raise, Toku’s total funding now stands at $55 million.
Toku’s platform connects enterprise resource planning (ERP) systems to banks and local payment rails, offering end-to-end automation for receivables management. Its core offerings include customizable payment portals, automated reconciliation tools, and dynamic collection strategies designed to reduce delinquency and operational costs.
Operating in Mexico, Brazil, and Chile, Toku primarily serves mid-sized to large enterprises across sectors like insurance, credit, education, real estate, and utilities. The company currently supports more than 450 enterprises—including brands like Chevrolet, Mapfre, Liverpool, and MetLife—and doubled its revenue in 2024.
With a team of over 150 employees, Toku is rapidly scaling and addressing the region’s deeply manual and inefficient collections processes. CEO Cristina Etcheberry commented, “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 These outdated methods lead to high delinquency rates and unnecessary friction.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.”