SwipeRx (previously mClinica Pharmacy Solutions), a Singapore-based online pharmacy platform, announced that it has secured $27M in equity and debt in a Series B funding round.
The round was led by Indonesia’s MDI Ventures, with participation from global investors, Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, SIG, and existing investors.
The company plans to use the funds to accelerate growth across South East Asia.
Farouk Meralli, Founder and CEO, SwipeRx says, “SwipeRx’s growth has been exponential and the past years have allowed us to further our vision to build the largest pharmacy network in SEA. This funding round reaffirms our commitment to disrupt this deeply fragmented industry while improving public health by supporting the pharmacy channel. We are excited to hold the pole position in SEA as a platform that has transformed and digitised the pharmacy industry, becoming their one-stop platform to perform all daily tasks from education to purchasing to inventory financing.”
Network of pharmacies
Founded by Farouk Meralli, SwipeRx has established a network of pharmacies in Southeast Asia, connecting over 235,000 pharmacy professionals from 45,000 pharmacies.
The company’s community-driven commerce model unites the fragmented pharmacy channel on a single platform enabling them to access all the information, education, and medicines they need.
From online education to centralised purchasing and logistics to financing, SwipeRx caters to the pressing needs of pharmacies, a critical public health channel.
The company has a strong presence across Indonesia, The Philippines, Vietnam, Malaysia, Thailand, and Cambodia.
At present, the company employs over 400 employees and plans to expand its community and commerce solutions for pharmacies across SEA and build on its lead-in its key markets.
Based out of Jakarta, MDI Ventures is a global multi-stage venture fund with 3 unicorns in its portfolio. The VC combines a VC model with service in providing companies with access to operational help after making a financial investment.
Donald Wihardja, the CEO, of MDI Ventures, comments, “We see the 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. SwipeRx has the largest retail purchasing network, national logistics capabilities, financing options, and a 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.”