Toki, a Philippine social commerce platform dedicated to collectibles in Southeast Asia, has secured US$1.8M in pre-seed funding from Kaya Founders and Foxmont Capital Partners.
Strategic investors, such as Anthony Oundjian (BGC Philippines), Brian Cu (SariSuki), and Ernest Cu (Globe), also participated. Bigboy Cheng, a renowned Southeast Asian sneaker, toy, and art collector, also joined.
Launched in November 2023 by former GCash executives, who are avid collectors, Toki aims to bring a 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.
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Since its launch, the marketplace has featured over 70,000 products across its first four categories, onboarded 100 curated sellers who rank among the top 30 sellers/resellers in their respective categories, and conducted close to 50 livestream auctions.
Toki debuted with the first four categories of Sneakers, LEGO, NBA Cards, and Funko Pops, representing the most popular collectibles among Filipino collectors.
In the next few months, Toki will scale up to expand its inventory further and introduce more categories in the platform. As a platform offering livestream auctions, Toki plans to build on this feature and continually unveil more innovative capabilities to enhance collectors’ experience.
Nearly half of the population (46 per cent) identifies as collectors in Southeast Asia, Hong Kong, and Taiwan. Among these, a significant 91 per cent have engaged in recommerce, averaging an annual spend of US$200, demonstrating this market’s robust nature and potential.
Zoe Ocampo, Co-Founder and CPO of Toki, said: “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.”
According to a joint study by Toki and GMO Research, the collectible market in Southeast Asia is currently valued at US$34 billion. It is projected to grow 7.2 per cent through 2026, reaching an expected market size of US$54 billion by 2030.
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“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,” stated Frederic Levy, Co-Founder and CEO 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.”
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