Toki, a social commerce platform with its headquarters in the Philippines, has raised $1.8 million in pre-seed capital to meet the needs of an undiscovered market.
Toki said in a statement on Monday that the pre-seed funding comes from venture capital partners Kaya Founders and Foxmont Capital Partners.
Moreover, Toki has gotten backing from influential tech investors like Ernest Cu (Globe), Brian Cu (SariSuki), and Anthony Oundjian (BGC Philippines), to mention a few.
Toki has also received investment from Bigboy Cheng, one of Southeast Asia’s most well-known collectors of art, toys, and sneakers.
Toki stated that it is planning to increase its inventory and add more categories to the platform over the next few months.
Toki stated that, as the only platform in the Philippines to provide livestream auctions, it is looking to expand on this ground-breaking feature and introduce more cutting-edge features to continuously improve the experience for collectors.
“Now that we are seeing traction, our primary goal is to establish ourselves as a reliable partner to Filipino collectors,
“We still need to keep on perfecting our solution to address the gaps that we have already identified in the market,” said Frederic Levy, Co-Founder and Chief Executive Officer of Toki.
“As we streamline, expand, and introduce more categories on our platform, we will also be assessing other markets to identify where collectors could benefit from our services,
“Most importantly, we are focused on understanding how to serve them in the most effective way,” he added.
As the company continues to build its success in the Philippines, Toki Co-Founder and Chief Product Officer Zoe Ocampo stated that they are seeing the enormous potential of the collectible market in the area.
“What’s interesting is that, despite the specificities in each market, there’s a universal desire for transactions to be smooth, secure, and engaging,
“In countries like Thailand, Indonesia, and Vietnam, there’s a real appetite for platforms that not only offer reliable, secure trading but also bring the excitement of live stream auctions. We’re thrilled about stepping into this space and making a difference,” he said.
In Southeast Asia, Toki is a top social commerce site for collectibles.
The company is becoming more well-known among the Philippines’ specialized and rapidly changing collector population.
