Toki, a prominent social commerce platform specialising in collectibles in Southeast Asia, has rapidly gained favour within the dynamic collector’s market in the Philippines since its launch in November 2023.
With over 70,000 featured products across its initial four categories, the platform has enlisted 100 curated sellers ranking among the top 30 in their respective categories and conducted close to 50 livestream auctions.
Recognising Toki’s trajectory and its potential impact on the untapped collectibles market, the platform has successfully secured a total of US$ 1.8 million in pre-seed funding.
This funding comes from venture capital partners Kaya Founders and Foxmont Capital Partners, along with support from strategic investors in the tech industry such as Anthony Oundjian (BGC Philippines), Brian Cu (SariSuki), and Ernest Cu (Globe). Bigboy Cheng, a renowned collector in Southeast Asia, has also invested in Toki.
Paulo Campos, founding managing general partner at Kaya Partners, said, “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.”
A joint study by Toki and GMO Research reveals that the collectible market in Southeast Asia is presently valued at US$34 billion and is expected to grow at a rate of 7.2% through 2026, reaching an anticipated market size of US$54 billion by 2030.
Nearly half of the population (46%) in Southeast Asia, Hong Kong, and Taiwan identifies as collectors, with a significant 91% engaging in recommerce, averaging an annual spend of US$200.
Toki, founded by former GCash executives and avid collectors, addresses the challenges of unsecured transactions in the market encompassing payments, logistics, and after-sales.
The platform initially launched with categories such as sneakers, LEGO, NBA Cards, and Funko Pops, aligning with the preferences of Filipino collectors.
Ocampo said, “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.”
Looking ahead, Toki plans to scale up its operations, expanding inventory, and introducing more categories to the platform. As the sole platform in the Philippines offering livestream auctions, Toki aims to enhance collectors’ experiences by introducing innovative capabilities in the coming months.
Frederic Levy, co-founder and CEO of Toki, noted, “Our primary goal is to establish ourselves as a reliable partner to Filipino collectors.
“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.”