Telio

About Telio

Telio operates as a business-to-business e-commerce platform in Vietnam, establishing a direct link between brands and traditional, small-scale retailers, often referred to as mom-and-pop shops. Founded in November 2018 by SyPhong Bui, the company aims to streamline the fragmented and inefficient fast-moving consumer goods (FMCG) market in the country. The platform digitizes the procurement process for these small retailers, who traditionally rely on multiple informal distributors and wholesalers for inventory. The founder, SyPhong Bui, has a background in entrepreneurship, having launched two other companies prior to Telio. His experience also includes serving as the CEO of a local fintech company. The concept for Telio was inspired by his participation in the Alibaba eFounders Fellowship program, where he gained insights into the more developed B2B e-commerce landscapes of China and India.

The company's business model centers on aggregating demand from a large base of small retailers to achieve economies of scale. This allows Telio to offer these retailers a wider selection of products, more competitive pricing, and more efficient logistics than they could access individually. For brands and wholesalers, Telio provides a more efficient sales channel, reduces distribution costs, and offers valuable data on end-customer purchasing behavior. The platform serves a diverse clientele, initially focusing on the FMCG sector and later expanding into other verticals. Telio generates revenue by taking a commission on the gross merchandise value transacted through its platform. The company has built out its own warehousing and logistics infrastructure to ensure next-day delivery for its customers.

Telio has achieved significant milestones, securing substantial financial backing from prominent international investors. The company was one of the first investments by Sequoia Capital in Vietnam. It has successfully raised capital through multiple funding rounds, including a $25 million Series A round in 2019 led by Tiger Global Management, with participation from Sequoia Capital India, GGV Capital, and RTP Global. This was followed by a $22.5 million pre-Series B round in 2021, co-led by GGV Capital and existing investors. By 2021, Telio had expanded its reach to serve over 35,000 retailers across 26 cities and provinces in Vietnam and was working with major brands like Coca-Cola and Unilever.