The archive · Commerce & Marketplaces · Strategic decision · 2022–2026
TechCoop links Vietnamese farmers to export chains: $70M Series A, $220M revenue
Founded in 2022 by Hao Diep, it runs a B2B export supply chain. Raised $70M Series A in 2025, claims $220M revenue, plans expansion.
TechCoop
What the business is
B2B integrated agricultural platform: it integrates 60+ crops and seafood products from Vietnamese cooperatives and farm enterprises—including cashews, coconuts, coffee, fruits, and vegetables—into export supply chains, providing traceability, trade finance, certification, and direct connections to overseas buyers.
How it started
In late 2022, former Nafoods executive Hao Diep and CTO Tuan Nguyen founded TechCoop in Ho Chi Minh City. The two saw Vietnamese smallholder farmers as fragmented, middlemen squeezing prices at multiple layers, and exports lacking traceability and financing, so they decided to build a B2B export supply chain: cooperatives/farm enterprises deliver goods to the platform, and the platform handles quality, traceability, payment terms, and market access. The company claims to have been profitable since its founding, with 10% month-over-month growth.
What happened
In February 2025, the company announced a $70M Series A: $28M equity (co-led by TNB Aura and Ascend Vietnam Ventures, with participation from BlueOrchard, FMO, AppWorks, and Capria Ventures) + $42M debt financing (supported by Vietnamese banks and international debt funds). The company said annualized revenue was $130M by the end of 2024, targeting $250M in 2025 and $400M in 2026; its mission is to serve 2,000 farm enterprises, 50,000+ farmer clubs, and 10 million smallholder farmers. AVV said this is one of the largest Series A rounds in the history of Vietnamese startups.
How it ended up
Still running, and has gone further than peers: in April 2026, its trading company Farmnet obtained an approximately $11.8M offshore loan from Swiss impact investment firm Symbiotics; the company says 2025 revenue was approximately $220M and the 2026 target is $500M, plans to enter Cambodia, Laos, and Thailand within the year and prepare for a Series B; it has served 250,000+ farmers and 2,000 cooperatives, piloted coffee/rice parametric insurance, and partnered with Viettel Post on logistics.
Background
In Feb 2025, TechCoop raised $70M Series A ($28M equity, $42M debt) co-led by TNB Aura and Ascend Vietnam Ventures, with BlueOrchard, FMO, AppWorks, Capria. After eFishery's collapse, this round revived agritech interest.
Founded late 2022 by Hao Diep and Tuan Nguyen, TechCoop runs a B2B export supply chain: integrates 60+ crops from cooperatives, provides traceability, trade finance, certification, and buyer access. Profitable since founding, 10% monthly growth, $130M annualized revenue by end-2024.
By April 2026, 2025 revenue ~$220M, 2026 target $500M; Farmnet got $11.8M loan from Symbiotics; plans Cambodia, Laos, Thailand; served 250k farmers, 2k cooperatives; piloted insurance, partnered with Viettel Post.
Bet: solution is connecting smallholders to global export chains, earning via trade and finance. Profit-first, finance-later enabled one of Southeast Asia's largest agri-food deals.
What has to be true
- Entering via business, not subsidies: earns from trade and finance, profitable before financing, avoids cash-burning growth.
- Focus on high-value exports (cashews, coffee, coconuts), direct buyer links, bypassing domestic price wars.
- Cooperatives aggregate smallholders into a financeable, traceable supply chain, not one-by-one service.
- $70M equity+debt: equity funds expansion, debt supports risk control, matching export cash-flow needs.
What can be applied
Profitability first, financing later: TechCoop's trade+finance model built cash flow, then raised $70M. Strong numbers overcome pessimistic narratives.
Aftermath
As of 2026-09-01: TechCoop is still expanding—by the company's account, 2025 revenue was approximately $220M and the target for 2026 is $500M; in April 2026, Farmnet obtained an approximately $11.8M offshore loan from Symbiotics, with plans to enter Cambodia, Laos, and Thailand within the year and prepare for a Series B; it has served 250,000+ farmers and 2,000 cooperatives, piloted coffee/rice parametric insurance, and partnered with Viettel Post. Revenue and profitability data are all from company statements and have not been disclosed through audited filings.
Sources
- Vietnam's Techcoop secures $70M series A with equity and debt funding
- VN startup banks on co-ops to defy agritech skeptics
- Symbiotics invests $11.8 million to help small farmers in Vietnam boost exports
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