Egypt’s Pharmacy Marts secures a six-figure bridge round

Early-stage venture capital firm Acasia Ventures has invested a six-figure bridge round in the Cairo-based company, as it aims to digitize the pharmaceutical sector's supply chain to improve patient access to medication.

Today, pharmacists dedicate an average of 30% of their time to manual stock monitoring and verifying product availability and prices. This results in delayed delivery of medication, further amplified by the fragmentation of the sector, as Egypt currently hosts 60,000 pharmacies offering over 7,000 products from 3,000 suppliers. The bigger caveat is that the connection between all these stakeholders is still very primitive and relies heavily on manual processes and phone calls.

This is the point where Pharmacy Marts steps in, by allowing pharmacists to search online for the products missing in their inventory, see which suppliers have them, obtain an estimate on which supplier could meet their financial and time-specific needs best, order the missing items, choose the preferred payment method, and receive their order within 24 hours. In addition, it provides access to working capital and long-term financing, including "Buy Now, Pay Later" options.

Today, Pharmacy Marts covers about 12,000 of Egypt's pharmacies, or 20% of the total market, and boasts over 200 suppliers on its platform.

Funding 💰

Round Bridge
Lead investor(s) Acasia Ventures

Quotes 💬

The distribution of medication in Egypt is not reliable or smooth, but rather plagued with the inconsistent availability of products across pharmacies and geographical areas, leading to a shortage in medication. This ultimately impacts the patients who need the medication and makes the life of a pharmacist rather difficult. We are excited about having Acasia Ventures on board, given its great presence in African markets that we are planning to enter, as well as their solid network of advisors and experts in the pharmaceutical industry.
Ahmed Kadous, co-founder & CEO
Pharmacy Marts' solid team has a fantastic track record and is successfully delivering a compelling digital solution to alleviate a big pain point for thousands of pharmacies and indirectly, millions of patients. In a short period of time, Pharmacy Marts has emerged as a category leader in this space and we are confident it will continue to go from strength to strength.
Aly El Shalakany, Managing Partner at Acasia Ventures

About 🏢

Pharmacy Marts is a digital marketplace that connects pharmacies and medical suppliers to easily, conveniently, and quickly access and receive medicine, medical supplies, and cosmetics. By allowing medical suppliers to list their product offerings in a single location, the company allows pharmacies to compare products and prices to get an optimum deal for their daily needs. Also, by working with licensed financial entities, Pharmacy Marts aims to empower pharmacists to grow their revenue sustainably through the "Buy Now Pay Later" digital financing feature. more
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