International, investments, news, pymnts news, tariffs, trade, vcs, venture capital, what’s hot in bbtoku raises . $ million to expand ar automation platform in latin americaby pymnts | april , | . Toku, funding, investments, bb, automation, accounts receivabletoku has raised $ million in a series a . Funding round for its accounts receivable (ar) software-as-a-service (saas) platform focused on mid-market to enterprise . Businesses in mexico, brazil and chile.

Will Use the New Funding to

The company will use the new funding to double down . On its go-to-market strategy and accelerate its product development, according to our task is to transmit the knowledge a thursday (april ) . Press release posted by venture and growth equity firm oak hc/ft, which led the funding . Round.Toku’s platform is designed to solve the manual and inefficient payment collection processes that are . Common in latin america and that lead to high delinquency rates, unnecessary friction and challenges .

Both Businesses and Their Customers Toku

For both businesses and their customers, toku ceo cristina etcheberry said in the release.“this latest . Investment round further validates the about netdragon websoft holdings limit demand for toku’s solutions, and we are excited to bring . Our technology to even more companies and regions,” etcheberry said.The company’s software enables payment orchestration . And automated collections by connecting companies’ enterprise resource planning (erp) systems with banks and payment .

According to the Release It Automates the

Rails, according to the release.It automates the entire payment cycle by providing customizable payment portals, . Automated reconciliations and optimized collection strategies, the release said.Toku was founded in and currently serves . More than enterprises in sectors like insurance, credit, education, real estate and utilities, per the . Release.“mid-to-large enterprises in latin america are navigating high operational costs, complex payment infrastructures and increasing .

Rates,” Oak Hc

Delinquency rates,” oak hc/ft partner allen miller fax database said in the release. “toku is addressing this . Pain point and empowering businesses across diverse industries with its seamless, world-class payment technology.”toku’s series . A round came about two years after the company’s seed round in which it raised . $ million.Full accounts payable and ar automation allows organizations to cut labor costs and reduce .