Toku operates an online financial platform that automates the collection of recurring payments using machine learning to optimize payment processes and reduce late payments. The platform enables businesses to manage automatic payment methods securely and efficiently, minimizing administrative tasks and lowering transaction fees through account-to-account payments.
Funding
$55.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
GVFounders
Product
Problem
Many businesses face challenges in efficiently managing recurring payments, leading to administrative overhead, increased transaction fees, and potential delays in revenue collection. Traditional methods often lack automation and security, making it difficult to optimize payment processes and reduce late payments.
Solution
Toku provides a comprehensive online platform designed to automate the collection of recurring payments, streamlining financial operations for businesses. The platform offers a secure and efficient way to manage automatic payment methods, minimizing administrative tasks and lowering transaction fees through account-to-account payments. By automating the entire collection process, Toku helps businesses increase revenue, reduce administrative burdens, and expedite the payment collection process. The platform supports various payment options in a customized portal with company branding and offers real-time data and reporting.
Target Audience
Toku primarily serves businesses with recurring revenue models across various industries, including education, finance, real estate, telecommunications, and insurance, who need to automate payment collection and reduce administrative overhead.
Features
- Automated payment collection through direct debit from bank accounts (PAC) and credit/debit cards (PAT)
- Secure payment portal with PCI Compliance Level 1 certification
- Tokenization of card data for enhanced security
- Customizable payment portal with company branding
- Real-time transaction monitoring and reporting
- Automated customer communication via email, SMS, and WhatsApp
- Integration via API, FTP, and native integrations
- Support for multiple payment methods in a single platform