Toku
Also a provider — view Toku’s profile →“Can a Latin American recurring-payments platform become the enterprise collections and payments OS for Chile, Mexico, and Brazil — the way Stripe did for the US?”
Founded2020
HQSantiago, Chile
FoundersCristina Etcheberry
Total raised$65M (approx.)
Latest roundSeries A, April 2025
IndustryVertical SaaS / Payments & Collections (LatAm)
The story
Founded in 2020 as a recurring-payments automation platform focused on Chile's PAC/PAT bank-debit infrastructure, Toku expanded into Mexico and Brazil to become a multi-country account-receivables SaaS. The platform evolved from basic payment-mandate enrollment to a full collections orchestration suite with ERP/CRM connectors, intelligent retry logic, automated reconciliation, and AI-powered conversational collection agents. The $48M Series A in 2025 signals a push toward being the Stripe-like payments OS for large enterprises in Latin America.
Last 12 months
2025-04
Product timeline
2020
Toku SpA founded in Santiago, Chile by Cristina Etcheberry as a recurring-payments collection platform.· pivot
2021
First seed funding; launched PAC/PAT (automatic payment mandate) enrollment in Chile.· banking
2023
Raised $7.15M Seed led by F-Prime; expanded operations to Mexico and began Brazil presence.· pivot
2024
Launched operations in Brazil; reached 450+ enterprise clients across Chile, Mexico, and Brazil.· pivot
2025
Raised $48M Series A led by Oak HC/FT — largest Series A by a woman-led Latin American fintech.· pivot
2025
Launched AI collection agents (conversational agents that attend, collect, and resolve) integrated into the payment platform.· pivot
The stack
1 layer disclosed in Toku’s embedded-finance stack
Accounting
ERP connectors (unnamed)CRM connectors (unnamed)
Accounting gap: minor