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.
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