Telio, a Vietnamese B2B e-commerce platform, has raised $22.5 million in a pre-Series B investment headed by VNG Corporation, a Vietnamese unicorn.
The deal included participation from GGV Capital, a global venture capital company, and existing stakeholder Tiger Global.
In 2019, it raised US $25 million in Series A funding led by Tiger Global.
Telio will use the funds to expand across 30 provinces in Vietnam, with the goal of serving over 60,000 retailers by 2021, according to a news report (in Vietnamese). It also plans to expand to 45 provinces and cities by the end of 2022, with 150,000 shop owners on board.
VNG will assist the digital booth setup for Telio’s shops on Zalo, a Vietnamese instant messaging service with 62 million users, as part of the strategic collaboration agreement. The platform also creates e-commerce support services like Zalo Official Account (OA) and Zalo Mini App, which let store owners digitize orders and track deliveries more easily.
Telio, which was founded in 2018 by CEO Phong Sy Bui, connects small shops with brands and wholesalers on a centralized platform that offers a larger assortment of items, competitive pricing, and efficient shipping. It uses big data to improve the value chains of manufacturers and merchants.
Telio began as a B2B platform but has now extended to include other industries such as home appliances, medical, and others, as well as evolving from a B2B to a B2B2C platform.
Telio is available on a variety of platforms, including the web, mobile app, and online storefronts on Zalo.
Telio is available on a variety of platforms, including the web, mobile app, and online storefronts on Zalo. Teliobooks is an app that helps business owners manage debt and income by sending automatic reports and reminders via SMS or Zalo messaging.
Telio was the first B2B platform to launch its online stores on Zalo to encourage contactless purchases in October 2020. Telio’s shops may now use the e-wallet payment option ZaloPay in their purchasing and selling procedures thanks to the partnership with VNG.
In addition, small and medium-sized company homeowners will have access to a variety of financial and credit solutions to help their businesses thrive.
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