VNG pours $22.5m into Vietnamese B2B ecommerce firm

Vietnam-based Telio, a startup that connects retailers with brands and wholesalers, said it has raised US$22.5 million as part of its latest round of funding.

More funding details

• Investor: VNG
• Stage: Pre-series B

More company updates

• As part of the strategic investment, VNG will help Telio boost its presence on Zalo’s instant messaging platform, helping merchants on Telio digitize order management.
• Meanwhile, VNG and Telio will also provide small and medium-sized businesses access to financial support products to support their expansion efforts.
• Prior to Telio, VNG’s most recent investments into local startups include its US$6 million injection in voucher platform Got It and US$4.4 million in logistics firm EcoTruck.
• VNG’s bet in Telio comes after a two-year legal dispute between the latter’s CEO Sy Phong Bui and his former company ended with the Singapore High Court. He was ordered to award his shares in Telio to investors of his previous startup. (Read: Did Sequoia India do enough due diligence on Telio?)
• In December 2019, Telio raised US$25 million in a series A round led by Tiger Global, with participation from Sequoia India, GGV Capital, and RTP Global.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.