Toqio raises £6.8m seed investment from Seaya Ventures, Speedinvest and SIX FinTech Ventures to scale its financial platform
The seed round was backed by Seaya Ventures, Speedinvest and SIX FinTech Ventures to support international expansion and team growth.
Toqio operates a financial software as a service platform and marketplace that helps businesses build and launch digital financial products. The company is headquartered in London and Madrid.
Toqio has secured £6.8m in seed funding from Seaya Ventures, Speedinvest and SIX FinTech Ventures. The capital will be deployed to expand the company team, solidify its presence across Europe, and push into the US market. The business provides a modular platform that allows clients to deploy financial services such as digital banking and cards without building complex software from scratch.
The enterprise was founded in 2019 by Eduardo Martínez and Michael Galvin, who previously established Geniac before its acquisition by Grant Thornton. Current clients include financial entities such as Wamo, Just Cash Flow and Crealsa. The latest injection follows growing demand for embedded finance infrastructure across traditional brands and financial startups alike.
From the founder
"After exiting the last business we kept getting pulled towards FinTech. With our backgrounds in SaaS and operating in the FinTech space, many opportunities came to us from banks, startups and big brands. We kept seeing the same problem, and no solution in the market. Regulation has changed and Banking-as-a-Service provided the plumbing for new solutions, but everyone was still building solutions from scratch. It felt like the same situation that has occurred again and again in the software industry before a new sector emerged, and we had an opportunity to be a first-mover to deliver a meaningful solution, with FinTech SaaS."
Eduardo Martínez
Co-Founder and CEO at Toqio
Investor perspective
"We have spent many years following the Embedded Finance space and finally found the missing piece, a seamless enabler that glues everything together. Toqio is a truly end-to-end platform that provides a complete plug and play bank and allows any organisation 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, Seaya
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Continue product development
