SwipeRx secures US$27 Million in Series B Funding to accelerate growth across Southeast Asia
SINGAPORE, May 23, 2022 /PRNewswire/ -- SwipeRx (formerly mClinica Pharmacy Solutions), Southeast Asia's (SEA) leading platform for pharmacies, announced it has secured a Series B round of US$27 million in equity and debt to accelerate growth across SEA. 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.
Singapore-based mClinica Pharmacy Solutions recently rebranded to SwipeRx, the name of its flagship app and has acquired more than 235,000 pharmacy professionals and 45,000 pharmacies across SEA to-date.
With a strong presence across Indonesia, The Philippines, Vietnam, Malaysia, Thailand and Cambodia, SwipeRx is ready to grow its network of pharmacies, expand their specialised healthcare logistics to fulfil B2B commerce, accelerate technological innovation and recruit talent across SEA.
Farouk Meralli, Founder and CEO, SwieRx, said, "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."
Since inception, SwipeRx identified that pharmacies were largely fragmented. SwipeRx innovated a community-driven commerce model and has established the largest digital community for pharmacy professionals with all-in-one B2B commerce capability.
Donald Wihardja, CEO, MDI Ventures, commented, "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. 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."
SwipeRx sees vast opportunities to expand its community and commerce solutions for pharmacies across SEA and build on its lead in its key markets. With a strong team of over 400 employees, SwipeRx is poised to grow and scale across SEA.