Toku, a 170-person fintech startup based in Santiago, Chile, has secured $48 million in a Series A funding round led by Oak HC/FT. The round, which values Toku at over $175 million, also saw investments from existing backers including F-Prime Capital, Gradient Ventures, Clocktower, Y Combinator, Wollef, and Honey Island. Founded by Cristina Etcheberry, Toku aims to revolutionize business-to-business payments in Latin America, mirroring the impact Nubank has had on consumer banking. The platform supports businesses in accepting consumer payments, sending payment reminders, and facilitating auto-pay. Toku targets companies in five industries: insurance, lending, real estate property management, education, and utilities, and has reached over $10 million in annualized revenue with notable capital efficiency. With the new funds, Toku plans to expand its operations in Mexico and Brazil, focusing on product development and hiring. The company's software helps businesses process payments through local banks, which handle 95% of transactions in the region, and supports payment methods like Brazil's Pix and Mexico's Spei. Toku's approach includes features such as routing payments to multiple processors, tracking incoming payments, and offering automated bill pay at the point of sale, marking it as the largest Series A fundraise for a female-founded tech startup in Latin America.