Vietnam’s Telio Shuts Down Despite Slashing Losses by 80%

Telio, once a leading B2B e-commerce platform in Vietnam, has officially ceased operations after struggling to secure fresh funding or an acquisition deal. The company, which had been a major player in the country’s wholesale digital marketplace, shut down in late 2024 despite significant cost-cutting efforts.

To extend its runway, Telio had implemented aggressive measures to reduce monthly losses by 80%. These included diversifying its product offerings and streamlining its sales force. However, the restructuring was insufficient to attract new investors or potential buyers, ultimately leading to the company’s closure.

Founded in 2019, Telio aimed to digitalize Vietnam’s fragmented retail supply chain, connecting small businesses with suppliers through its platform. The company had previously raised substantial funding from investors, including Tiger Global and GGV Capital, and had positioned itself as a key innovator in the country’s B2B commerce space.

Despite the company’s early success, Vietnam’s competitive e-commerce landscape, macroeconomic challenges, and a tightening funding environment proved too much to overcome. Industry analysts suggest that Telio’s shutdown reflects broader struggles in the B2B sector, where profitability remains a major hurdle for startups relying on investor capital.

The closure of Telio marks the end of a significant chapter in Vietnam’s digital commerce growth story, raising concerns about the sustainability of similar ventures in the region.