Farmnet, the domestic-trading subsidiary of Vietnamese agritech firm Techcoop, announced on April 14 that it had secured a US$11.75 million (about 1.76 billion yen) senior secured loan from Symbiotics, a Geneva-based impact-investment company in Switzerland. It is Farmnet's first offshore loan and will be put toward expanding the trading volume of domestic farm produce. Techcoop, which reached US$220 million in revenue in about three years since its founding at the end of 2022, is aiming for US$500 million in 2026 and accelerating its cross-border expansion into the Mekong region.
US$11.75 million from Symbiotics—Farmnet's first offshore loan
According to Vietnam Investment Review (dated April 14), Techcoop's Vietnamese domestic-trading subsidiary Farmnet raised a US$11.75 million senior secured loan from Symbiotics. Farmnet's parent is the Singapore entity TechCoop Investment & Technology, and this offshore financing is a first for Farmnet.
The use of funds is to bolster working capital, invested directly into increasing the trading volume of cassava, coconut, cashew nuts, durian, coffee, fresh produce and processed farm goods handled domestically.
Techcoop at a glance: founded in 2022, profitable at a 10% monthly growth rate
Techcoop is an agritech platform company established in Vietnam at the end of 2022. It operates a B2B platform specialized in export-oriented farm-produce supply chains and offers comprehensive services such as support for technology adoption, product traceability, flexible payment terms and expanded market access.
Since its founding, it has maintained a 10% monthly growth rate while achieving profitable operation. In 2025 it posted revenue of about US$220 million. It currently operates 20 bases across 28 of Vietnam's 34 provinces and has trading relationships with 641 agricultural cooperatives and farm enterprises.
Techcoop's business scale (2024–2026)
| Year | Revenue (US$ million) | Yen conversion (hundred million yen) | Year on year |
|---|---|---|---|
| 2024 | 130 (annualized) | About 195 | — |
| 2025 | 220 | About 330 | +69% |
| 2026 (target) | 500 | About 750 | +127% |
Note: yen conversions are estimated at 1 dollar = 150 yen
Local reactions: voices of management, investors and the industry
Tuan Nguyen, Techcoop's Vietnam country head and co-founder, commented, 'Farmnet's first offshore loan, through the partnership with Symbiotics, becomes an accelerator for the domestic business toward the 2026 revenue target of US$500 million.'
Aldric Luyt, head of Symbiotics's fintech division, said, 'The investment in Techcoop strengthens working-capital solutions for agribusiness,' emphasizing its significance as impact investment.
From Vietnamese agritech-industry players comes the assessment that 'in Vietnam, where the agricultural sector's share of GDP is 11.86% (2025), it is rare for a digital supply-chain intermediary to be profitable. It has the potential to change the conventional broker structure.'
Impact on Japanese importers and agricultural players
The items Techcoop handles include cashew nuts, coffee, durian and coconut—mainstay farm products for export to Japan. Its platform has traceability functions, so for Japanese importers it could become a trading partner through which it is easy to secure transparency of origin information and quality control.
Particularly noteworthy is the network of direct trade with 641 cooperatives and farm enterprises. When a Japanese food importer seeks stable sourcing of Vietnamese raw materials, a contract via a digital platform like Techcoop has an advantage over going through conventional multi-layered brokers on both cost efficiency and quality control.
Vietnamese agriculture's logistics-cost problem (20–25% of production cost) On that too, the fact that a platform like Techcoop works to compress intermediate margins could lead to improved sourcing costs.
Ripple to the industry: accelerating agritech investment and Mekong-region expansion
Techcoop completed a US$70 million Series A round in February 2025 (US$28 million equity plus US$42 million debt), co-led by Ascend Vietnam Ventures (AVV) and TNB Aura, with BlueOrchard, FMO, Capria Ventures and AppWorks participating. This Symbiotics loan is additional debt financing on that trajectory.
For 2026 it plans to expand into Cambodia, Laos and Thailand, aiming to digitize the farm-produce supply chain across the entire Mekong region. The Vietnamese government's agriculture, forestry and fishery export target of US$73–74 billion As infrastructure supporting that too, the role of such agritech platforms is expected to expand.
Techcoop / Farmnet practical information
| Item | Details |
|---|---|
| Company name | TechCoop Investment & Technology (Singapore entity) |
| Domestic subsidiary | Farmnet (domestic trading in Vietnam) |
| Established | End of 2022 |
| Co-founder | Tuan Nguyen (Vietnam country head) |
| Business model | B2B farm-produce supply-chain platform |
| Items handled | Cassava, coconut, cashew nuts, durian, coffee, fresh produce, processed farm goods |
| Number of bases | 20 bases in Vietnam (covering 28 of 34 provinces) |
| Trading partners | 641 agricultural cooperatives and farm enterprises |
| Cumulative fundraising | About US$81.75 million (Series A US$70 million + Symbiotics US$11.75 million) |
| 2026 expansion plan | Cross-border expansion into Cambodia, Laos and Thailand |
Summary: the digital supply chain transforming the commercial flow of Vietnamese agriculture
The Techcoop / Farmnet case symbolizes the move by Vietnam's farm-produce supply chain to shift from the old broker type to the digital-platform type. Revenue of US$220 million within three years of its 2022 founding, and further rapid growth toward US$500 million, backs up the size of demand for digitizing Vietnamese agriculture.
For Japanese food importers, the timing has come to watch the rise of platform companies like Techcoop and to compare conventional broker-based sourcing with platform-based sourcing. A realistic first step is to check the covered items and regions on the company's website (techcoop.com) and start by sounding out trading terms.
