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SwipeRx secures US$27 Million in Series B Funding to accelerate growth across Southeast Asia

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SwipeRx secures US$27 Million in Series B Funding to accelerate growth across Southeast Asia
SwipeRx Team Members at their logistics centre in Indonesia
  • The Series B round is led by Indonesia’s MDI Ventures with participation from global investors, Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, Susquehanna International Group (SIG) and existing investors
  • Fresh funds to be deployed towards scaling network of pharmacies, expanding logistics network for B2B e-commerce, accelerating technological innovation and recruiting talent across the region
  • Wide network of over 235,000 pharmacy professionals and 45,000 pharmacies from Southeast Asia currently on the SwipeRx platform
Singapore, 24 May 2022 – SwipeRx (formerly known as mClinica Pharmacy Solutions), Southeast Asia’s leading platform for pharmacies, today announced it has secured a successful Series B round of US$27 million in equity and debt. The round was led by Indonesia’s MDI Ventures, with participation from global investors, Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, Susquehanna International Group (SIG) and existing investors. The latest funds will be used to further accelerate their growth across Southeast Asia with a focus on Indonesia. The Singapore-based firm recently underwent a rebrand from being known as mClinica Pharmacy Solutions to SwipeRx, the name of its flagship app. To-date, SwipeRx has acquired more than 235,000 pharmacy professionals and 45,000 pharmacies across the region by providing its users with the digital tools and information they need to better serve patients and manage their pharmacies. The firm works with multinational pharmaceutical companies, governments and NGOs connecting the entire pharmaceutical ecosystem. With a strong presence across Indonesia, The Philippines, Vietnam, Malaysia, Thailand and Cambodia, the firm is now geared to further scale SwipeRx’s growing network of pharmacies, expand their specialised healthcare logistics to fulfil Business-to-Business (B2B) commerce, accelerate technological innovation and recruit talent across the region. Commenting on the successful fundraise and rebranding, Farouk Meralli, Founder and CEO of SwipeRx, said, “Our growth as a company has been exponential and the past years have allowed us to further our vision to build the largest pharmacy network in the region. This round of funding 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 this region as a platform that has transformed and digitised the pharmacy industry, and become their one-stop platform to perform all their daily tasks from education to purchasing to inventory financing.”
The SwipeRx Story
SwipeRx is founded by Founder and CEO, Farouk Meralli, a veteran within the public health sector and pharmaceutical industry. Leveraging his deep understanding of the pharmaceutical industry, SwipeRx has grown to become the leading application for pharmacies in Southeast Asia and has established the largest digital community for pharmacy professionals with an all-in-one B2B commerce capability. In Indonesia alone, more than 8,000 retail pharmacies, amounting to a quarter of all pharmacies in the country, are on SwipeRx with over 5,000 of them joining its digital purchasing network and transacting on its B2B platform.

Since its inception, the firm identified that pharmacies were largely fragmented, mom-and-pop shops operating in silos and had yet to digitise. SwipeRx innovated the community-driven commerce model and focused on building the largest digital community of pharmacy professionals by connecting these once fragmented pharmacies on a common digital platform. Through this, its network of pharmacies gained access to online education, drug information and were provided with a forum to communicate with one another. Once connected as a community, SwipeRx enrolled its members in the largest digital purchasing network – enabling small pharmacies to benefit from scale while drastically improving the availability and affordability of medicines and even providing financing options to these small businesses.

Donald Wihardja, CEO of 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.”
The Road Ahead SwipeRx sees vast opportunities to expand its community and commerce solutions for pharmacies across the region and build on its lead in its key markets. With a strong team of over 400 employees, the firm is poised to grow and scale across Southeast Asia.

About SwipeRx

SwipeRx (formerly mClinica Pharmacy Solutions), is the leading technology application for pharmacies in Southeast Asia. It leverages its mobile platform to connect more than 235,000 pharmacy professionals and 45,000 pharmacies across the region.

The firm empowers pharmacies to be the centre of care by providing much-needed pharmacy support. With its community-driven commerce model, the platform serves the largest digital pharmacy purchasing network through specialised and compliant healthcare logistics, negotiated pricing and financing solutions.

With its corporate headquarters in Singapore and a strong presence in Indonesia, The Philippines, Vietnam, Malaysia, Thailand and Cambodia, the firm is backed by a set of global investors, including MDI Ventures, the Bill and Melinda Gates Foundation, Johnson & Johnson Impact Ventures, Susquehanna International Group (SIG), Patamar Capital and Global Innovation Fund among others.

SwipeRx was a recipient of the World Economic Forum’s “Technology Pioneers,” and received several other accolades including the World Government Summit’s “Best m-Government Service Award”, the “ORIGIN Innovation Award” for Health-Tech, USAID-FHI360’s “Data for Resilience Award,” a winner of the Pierre Fabre Foundation Prize for eHealth Innovation, and the winner of Hack Osaka.

For more information, please visit:
www.swiperxapp.com

For press inquiries, please contact:

Rifdi Jaffar
+65 9877 8569
rifdi@aprw.asia

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