Mio raises USD 8 mln in Series A funding round

Mio is a group buying platform for grocery and fresh produce with next day delivery for Tier 2 and 3 cities in Vietnam. The company aims to drive financial independence for millions of Vietnamese women by democratising entrepreneurship opportunities through its Mio Partner model.

Mio Partners act as resellers who acquire orders from their immediate social circle of friends and family, aggregate, place, and manage orders through the Mio app. In return, Mio partners can make up to USD 400, earning a 10% commission on each order, and additional commissions based on the monthly performance of resellers they referred to the platform. Given that many of Mio Partners are women from smaller towns in Vietnam, this new stream of income has improved their family’s welfare, according to the company.