UK SaaS platform Toqio nabs £17.2m in Series A funding

London-based fintech platform Toqio has secured £17.2 million (€20 million) in Series A funding, led by Albion Capital. It also includes a £1.1 million grant from a Spanish public organisation for technology development.

Following the investment, Jay Wilson of Albion Capital will join Toqio’s board of directors.

Founded in 2019, Toqio’s low-code Software-as-a-Service (SaaS) platform helps fintechs and financial service providers build and launch banking and financial solutions “in weeks, not months”.

“After rapidly growing our team and entering the Spanish market, we’ll now be broadening our focus within Europe,” says Eduardo Martinez Garcia, CEO and co-founder of Toqio.

“This new funding round will enable us to keep evolving and delivering on our vision to become the world’s premier fintech SaaS platform, giving our clients the ability to create, customise and launch bank-grade digital finance solutions.”

Toqio also offers a marketplace wherein companies can incorporate curated fintech modules into a solution, offered by “leading” financial service providers.

The start-up last raised $9.4 million in a seed round in July 2021.

With offices in London, Madrid and Nairobi, Toqio has grown to employ more than 100 people and claims to serve 50+ customers across Europe.