SwipeRx Secures US$27M in Series B Funding to Accelerate Growth in Southeast Asia

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SINGAPORE, May 23, 2022 /PRNewswire/ — SwipeRx (formerly mClinica Pharmacy Solutions), South East Asia (SEA), the leading platform for pharmacies, announced that it had obtained a series B of $27 million in equity and debt to accelerate growth in SEA. The tour was led by indonesia MDI Ventures, with participation from global investors, the Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, SIG and existing investors.

SingaporemClinica-based Pharmacy Solutions was recently renamed SwipeRx, the name of its flagship app, and has acquired more than 235,000 pharmacy professionals and 45,000 pharmacies in SEA to date.

With a strong presence across Indonesia, The Philippines, Vietnam, Malaysia, Thailand and CambodiaSwipeRx is poised to grow its pharmacy network, expand its specialized healthcare logistics to realize B2B commerce, accelerate technology innovation, and recruit talent into SEA.

Farouk MeralliFounder and CEO, SwipeRx, said, “The growth of SwipeRx has been exponential and the past few years have allowed us to pursue our vision of building the largest pharmacy network in SEA. This round of funding reaffirms our commitment to disrupting this deeply fragmented industry while improving public health by supporting the pharmacy channel. We are thrilled to hold the pole position in SEA as the platform that has transformed and digitized the pharmaceutical industry, becoming their one-stop platform to perform all day-to-day tasks, from education to purchasing to inventory financing.

Since its inception, SwipeRx has identified that pharmacies were largely fragmented. SwipeRx has innovated a community-driven commerce model and established the largest digital community for pharmacy professionals with all-in-one B2B commerce capability.

Donald WihardjaCEO of MDI Ventures, said, “We see great potential and promise in the SwipeRx platform as it strives to address the challenges facing pharmacies, particularly in Indonesia, by connecting different players – big and small – under one platform. SwipeRx has the largest retail buying network, nationwide logistics capabilities, financing options, and a fully integrated B2B stack that pharmacies can leverage. We at MDI Ventures are excited to be part of the next phase of growth for SwipeRx as it seeks to reach 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 evolve through SEA.

SOURCE SwipeRx

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