Mio, a social commerce start-up focused on smaller sized cities and rural areas in Vietnam, raises $1M seed

by RJ Shara | May 21, 2021 | Fundings and Exit, Startups

Vietnam has one of the fastest-growing e-commerce markets in Southeast Asia, but lots of significant platforms still concentrate on big cities. This indicates people in smaller sized cities or rural areas require to deal with longer wait times for shipments. Social commerce company Mio is making the most of that gap by constructing a reseller network and logistics […] Established in June 2020, Mio now declares hundreds of representatives, or resellers. Mio is amongst a crop of social commerce startups across Asia that leverage the purchasing power of locations where significant e-commerce players have not reached dominance. Social commerce companies generally don’t require resellers to bring inventory. To attend to shipment challenges, Mio is developing an internal logistics and fulfillment system, including a new circulation center in Thu Duc that can distribute products to all of Ho Chi Minh and the surrounding five cities in Binh Dong and Dong Nai provinces. …