Up Next for Local Online Collectibles Marketplace Toki: Pokémon, One Piece Trading Cards

Pioneering social commerce startup Toki is off to a splashy start, securing over P100 million in pre-seed funding since its launch in early November 2023. 

The company, which provides a platform for collectors to buy and sell things like sneakers, sports cards, Lego, Funko, and art toys announced that it has raised a total of $1.8 million from investors led by venture capital firms Kaya Founders and Foxmont Capital Partners, as well as strategic investors Anthony Oundjian (Boston Consulting Group Philippines), Brian Cu (SariSuki), Ernest Cu (Globe), and investment from Christian Robert “Bigboy” Cheng, who is a familiar name in the local collectibles market.

In a news release, Toki detailed its achievements in just over two months of operations: over 70,000 products featured across its first four categories, more than 100 curated sellers onboarded who all rank among the top 30 sellers/resellers in their respective categories, and 50 livestream auctions conducted.

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In a statement sent to Esquire Philippines, Frederic Levy, co-founder and CEO of Toki, laid out the company’s plans over the next few months. “Our ambition is unwavering: to ignite the passion of all Filipino collectors, by proposing them the most exciting and secured experience. Starting Q1 2024, we’re expanding to include new categories like a Trading Cards section with favorites such as Pokemon, One Piece, MTG, Marvel, Disney, and many more. 

Toki currently has four categories: Sneakers, Lego, NBA Cards, and Funko Pops. According to Toki, nearly 40 percent of Filipinos collect some type of item and they’re spread across generations: 40 percent are aged 35 to 50, and over 50 percent are 25 to 34 years old. Research indicates that the market for collectibles in the Philippines is worth about $5 billion and goes up to $60 billion across Southeast Asia.

In addition to Levy, the company was co-founded by former executives of GCash led by Zoe Ocampo, Jules Jurado, Prabh Singh.

“Fred and the rest of the founding team are seasoned startup operators and fervent collectors themselves,” Paulo Campos, managing partner of Kaya Founders, told Esquire Philippines. “We believe that their experience, expertise, and passion makes them best-placed to tackle the sizable and growing collectibles market in Southeast Asia and innovate within social commerce.”

“Foxmont invests in great entrepreneurs, and frankly, we believe that Frederic, Zoe, Prabh, and Jules are among the best founders that the Philippines can offer,” added Franco Varona, managing partner at Foxmont Capital Partners. “They bring with them a depth of experience from fintech, e-commerce, and ride-hailing that is unmatched, and we believe that they are the right founders to bring Toki to great heights." 

“As we keep on building our success in the Philippines, we're seeing the huge potential of the collectible market in the region,” Toki co-founder and chief product officer Zoe Ocampo said. “What's interesting is that, despite the specificities in each market, 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 livestream auctions. We're thrilled about stepping into this space and making a difference.”