What Happened to Online Collectibles One-Stop Shop Toki?

Local collectibles e-commerce platform Toki has halted its operations after its chief executive officer and co-founder cited challenges that needed “deeper engagement with compliance and regulatory matters.”

In an interview with Tech in Asia published on June 11, Toki CEO and Co-Founder Frederic Levy said it was the company’s decision to “let others take the lead in pursuing these next steps.”

The collectibles one-stop-shop was launched in November 2023 when it got funding from early-stage venture capital firms Kaya Founders and Foxmont Capital Partners, among other key investors. Toki has featured more than 100,000 items such as vintage sneakers, Lego, Funko Pops, Pokémon and sports cards.

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Former GCash executives Levy, Zoe Ocampo, and Jules Jurado were the masterminds behind the commerce startup. The founders themselves said they were avid collectors and wanted to set up a platform that would cater to this rising demand for these products in the Philippines.

Toki raised around P105 million in seed funding from the VC firms with other notable investors from the tech space such as Anthony Oundjian from the Boston Consulting Group, Brian Cu from SariSuki, Ernest Cu from Globe Telecom, and Uratex's Bigboy Cheng, who is also a well known local collector and streetwear brand founder.

Esquire Philippines reached out to Levy for a statement via text message and email but did not receive a reply. Kaya Founders Managing Partner Paulo Campos also did not immediately reply to a request for comment at the time this story was first posted.

However, according to Levy's LinkedIn profile, he joined the local proptech startup Lhoopa as COO beginning in February 2025.

Toki also sought to expand its product range to K-Pop merchandise, fashion and luxury goods as it tried to appeal to the millennial and Generation Z demographics. About 37 percent of the country’s population are seen as collectors with the market being valued at as much as $6 billion last year based on a study by Toki and GMO Research.

The products were only available on the platform’s website but Toki had plans on setting up physical stores and to roll out a mobile app for collectors.

“We know the community. A big [part] of why we started Toki is [we are all] collectors,” Ocampo said last year. “At the end of the day, the most important thing to build in every business is trust.”