Faks Raises €5 Million in Funding

by Kay Aloha Villamor in May 30th, 2023

Faks, a Paris, France-based startup that provides pharmacies with a digital platform that simplifies their after-sales operations with all their suppliers in one centralized location, has successfully raised €5 million in funding from Connect Ventures, Seedcamp, and Cocoa Ventures.

The funding will be used to strengthen Faks' position in France and support its expansion into new European markets. With this investment, the company plans to enhance its technical and commercial teams by hiring around twelve new employees, as well as prepare for its European expansion.

Geoffray and Goupy express their belief that this funding round is crucial for solidifying Faks' leadership position in the French market and marks the beginning of their internationalization efforts.

Geoffray and Goupy emphasize: “This funding round is decisive to further consolidate our leadership position in the French market and the starting point for our internationalization. After having partnered up with 60% of French pharmacies, we are convinced that our solution can profoundly transform the business of pharmacy professionals throughout Europe.”

Faks offers pharmacies a digital, easy-to-use platform to manage all their after-sales operations, for all their suppliers, all in one place – think promotions, claims, or expired products management.

The digital platform streamlines the relationship between pharmacies and their suppliers and helps them work better together.

Company: Commandes Pharma S.A.S.

Raised: €5.0M

Round: Unknown

Funding Month: May 2023

Lead Investors: Connect Ventures, Seedcamp, and Cocoa Ventures

Additional Investors:

Company Website: https://www.faks.co/

Software Category: Communication Software

About the Company: Founded in 2020 by Corentin Geoffray, Clément Goupy, and Félix Pignard, Faks is a provider of communication software for laboratories and pharmacies. The company has developed a pharmacy-laboratory communication and management system that allows medical facilities to connect regarding orders, inventory, and supplies. The laboratories can track order status, requests, and more on the platform. The company's network comprises 12,000 partner pharmacies, which represents 60% of the French pharmacy network. Furthermore, Faks collaborates with 118 pharmacy associations and over 700 pharmaceutical companies, including industry giants like Biogaran, Biocodex, and Bouchara.

Source: https://www.eu-startups.com/2023/05/paris-based-faks-raises-e5-million-to-digitally-streamline-interactions-between-pharmacies-and-their-suppliers/

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