At a Glance
Toqio has raised $9.4M in its seed round funding to scale its platform. The company assists businesses in launching financial solutions quickly, removing their need to build and manage complex software solutions
Toqio, a provider of SaaS global financial platform, has announced its raise of €8 million ($9.4 million) seed round funding led by Seaya Ventures and Speedinvest, with participation from SIX FinTech Ventures.
We are delighted to announce our $9.4m seed investment from our new partners @SeayaVentures, @speedinvest and @sixgroup. We owe this achievement to our incredible team, clients and partners who have been with us along this exciting journey! https://t.co/Xru5covXDv— TOQIO (@TOQIO_Fintech) July 6, 2021
The company would use the proceeds to scale its platform. Taking the announcement to its official LinkedIn and Twitter Handle, Toqio thanked the investors and enunciated its vision.
We are on a journey to help businesses to accelerate and cost-effectively build new financial propositions through our ready-to-launch Fintech SaaS platform and marketplace. Thanks to our amazing team, clients, and partners who have been working with us along this journey!Toqio, a provider of SaaS global financial platform
Toqio, founded in 2019, helps businesses launch their financial services quickly and removes the need for enterprises to build complex software solutions. It aspires to solve problems across fintech markets, wherein businesses often encounter struggles in choosing between launching new products and buying an in-house solution.
In an official statement released by Seaya Ventures Eduardo Martínez, co-founder and CEO of Toqio, opined that even though regulation has undergone changes and Banking-as-a-service has provided the impetus for new solutions, many were still building solutions from scratch. Mr. Martinez added,
Businesses and banks are looking to innovate in the FinTech sector, but to date, they have had to create and maintain complex software solutions to do this. This has also kept smaller niche businesses out of the market. We don’t want FinTech to end up like banking, just with a new set of big incumbents trying to take control of financial services. We want to level the playing field.Eduardo Martínez, co-founder and CEO of Toqio
Commenting on the funding, Aristotelis Xenofontos, principal at Seaya Ventures, stated that in the field of embedded financing, there was the need for a seamless enabler that could bring everything together. Lauding Toqio, he added,
Toqio is a truly end-to-end platform that provides a complete plug and play bank and allows any organization to offer a full suite of digital financial services in a rapid, painless, future-proof and low-cost way. We are delighted to back Toqio’s outstanding team and support them in accelerating the impressive commercial traction they have already achieved in such a short time,Aristotelis Xenofontos, principal at Seaya Ventures