Toki, a social commerce platform dedicated to collectibles in Southeast Asia, has announced raising $1.8 million in its pre-Seed funding round backed by venture capital firms Kaya Founders and Foxmont Capital Partners.
Toki has also received support from strategic investors in the tech industry such as Anthony Oundjian (BGC Philippines), Brian Cu (SariSuki), and Ernest Cu (Globe), to name a few.
The startup has been gaining popularity among niche and fast-evolving market of collectors in the Philippines.
Since its launch in November 2023, Toki has already featured over 70,000 products across its first 4 categories, onboarded 100 curated sellers who rank among the top 30 sellers/resellers in their respective categories, and already conducted close to 50 livestream auctions.
Toki has received an investment from Bigboy Cheng, one of the most renowned sneaker, toy, and art collectors in Southeast Asia.
“The sizable and growing collectibles market in Southeast Asia represents an immense opportunity, bolstered by developments in adjacent industries like e-commerce and financial technology,” said Paulo Campos, founding managing general partner at Kaya Partners.
“We believe that what Fred and his team are building at Toki can deliver something truly innovative to the social commerce category while servicing all forms of collectors across the region.”
According to a joint study by Toki and GMO Research, the collectible market in Southeast Asia is currently valued at $34 billion and is projected to grow at a rate of 7.2% through 2026, reaching an expected market size of $54 billion by 2030. In Southeast Asia, Hong Kong, and Taiwan, nearly half of the population (46%) identifies as collectors.
Among these, a significant 91% have engaged in recommerce, averaging an annual spend of $200, demonstrating the robust nature and potential of this market.
Built by former GCash executives and avid collectors themselves, Toki was established to bring a more seamless experience to collectors’ journey, from discovery to purchase, and address the challenge of unsecured transactions in the market that comprise payments, logistics, and after-sales.
Toki debuted with the first four categories of Sneakers, LEGO, NBA Cards, and Funko Pops, representing the most popular collectibles among Filipino collectors.