Police said this afternoon that both men left in a dark-coloured Nissan sedan which travelled down 17th Avenue and up Clarke Street, behind Tauranga Hospital.
Nobody was hurt during the robbery, but the victim was extremely traumatised and is receiving assistance from Victim Support, Detective Sergeant Alan Kingsbury said.
Mr Kingsbury said someone in the community would have knowledge of those involved and could hold the key to solving the robbery.
Anyone with information that could assist the investigation is asked to contact Tauranga Police on 07 5774300.
Alternatively information can be provided anonymously via Crimestoppers on 0800 555 111.