Stockholm-based online pharmacy startup Apotekamo focusing on Southeast Europe has scored €2.5 million in funding. With this round, the company has a pre-money valuation of €14.6 million.
Plans for further development
The investment came from angel funder collective Angelgate AG and FC Bayern Munich’s Sporting Director, former Bosnian professional footballer Hasan “Brazzo” Salihamidžić.
Apotekamo will use the newly raised capital for further geographical expansion, marketing activities, and development of the company’s logistics solution. As a part of the financing, Hasan “Brazzo” Salihamidžić became Apotekamo’s third-largest shareholder and will also support in its marketing activities.
Arli Mujkic, CEO and Founder of EPTI, commented: “We are pleased to continue to support Apotekamo in its growth journey. The company is a typical EPTI case, where we are involved in launching, developing, and upscaling a niche player on a digitally immature market. Apotekamo has made great operational progress over the past year and has seen strong growth in both returning customers and orders. We are happy and proud to have Hasan Salihamidžić on board, an internationally recognised football personality who will contribute to increased visibility.”
Hasan Salihamidžić, Sporting Director of Bayern Munich, commented: “I am very impressed by Apotekamo’s fast growth and its management. The company has a proven concept in other markets, so it is only a matter of time before the same applies to the rest of Europe. I see a great opportunity in strengthening the healthcare market in my home region and very much look forward to supporting the company in various marketing activities.”
Srdjan Milic, CEO of Apotekamo, commented: “We are delighted with the trust from existing and new investors, especially given the current market climate and the geopolitical situation. It feels great to find common ground on our vision to do good for society and simultaneously become the leading online pharmacy in Southeast Europe. During the first half-year period of 2022, Apotekamo increased its order intake by 740 percent compared with the corresponding period last year. Finally, we are of course happy to welcome Hasan Salihamidžić as a new major shareholder in the company.”
Belongs to portfolio of EPTI
Apotekamo is a portfolio company of Swedish venture builder EPTI. It is a leading online pharmacy in the target region of central and southeastern Europe.
Apotekamo was first launched in Serbia, and expanded to Bosnia and Herzegovina during the first quarter of 2022, following the acquisition of a local pharmacy. The company offers a comprehensive range of both over-the-counter and prescription drugs. Also, it provides digital services regarding order processing and payment solutions for external suppliers on Aptekamo’s platform.
It provides the best shopping experience for consumers by offering digital and simple solutions for both suppliers and end consumers.