Pharma platform SwipeRx has landed a Series B round of US$27 million in equity and debt to further accelerate their growth across Southeast Asia starting with Indonesia. The MDI Ventures-led round was backed by global investors such as the Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, Susquehanna International Group (SIG) and existing investors.
“This round of funding reaffirms our commitment to disrupt this deeply fragmented industry while improving public health by supporting the pharmacy channel,” comments Farouk Meralli, Founder and CEO of SwipeRx, on the successful fundraise and rebranding.
“We are excited to hold the pole position in this region as a platform that has transformed and digitised the pharmacy industry, and become their one-stop platform to perform all their daily tasks from education to purchasing to inventory financing.”
The Singapore-based company recently underwent a rebrand from mClinica Pharmacy Solutions to SwipeRx, the name of its flagship app, and works with multinational pharmaceutical companies, governments and NGOs connecting the entire pharmaceutical ecosystem.
SwipeRx has grown to become the leading application for pharmacies in Southeast Asia and has established the largest digital community for pharmacy professionals with an all-in-one B2B commerce capability.
In a statement, the firm has said that the fresh funds will assist the company as it gears up to further its network of pharmacies, expanding logistics network for B2B e-commerce, accelerating technological innovation and recruiting talent across the region.
“We see great potential and promise in SwipeRx’s platform as it strives to address the challenges faced by pharmacies, especially in Indonesia, by connecting different players – big and small – all under one platform,” said Donald Wihardja, CEO of MDI Ventures.
SwipeRx has the largest retail purchasing network, national logistics capabilities, financing options and fully integrated B2B stack for pharmacies to leverage. We, at MDI Ventures, are excited to be a part of SwipeRx’s next phase of growth as it looks to achieve greater heights in Indonesia and the region.”
To-date, SwipeRx has acquired more than 235,000 pharmacy professionals and 45,000 pharmacies across the region by providing its users with the digital tools and information they need to better serve patients and manage their pharmacies.
SwipeRx was a recipient of the World Economic Forum’s “Technology Pioneers,” and received several other accolades including the World Government Summit’s “Best m-Government Service Award”, the “ORIGIN Innovation Award” for Health-Tech, USAID-FHI360’s “Data for Resilience Award,” a winner of the Pierre Fabre Foundation Prize for eHealth Innovation, and the winner of Hack Osaka.