During the COVID-19 crisis, the European healthcare ecosystem underwent an accelerated digital transformation. Despite significant progress, the pharmaceutical sector remains one of the least digitized sectors within healthcare, costing pharmacies financial and time resources and impacting their relationships with suppliers, partners, and, most importantly, patients.
This is why we are excited to back Faks, a Paris-based startup that offers pharmacies a digital, easy-to-use platform to manage all their after-sales operations, for all their suppliers, all in one place – from promotions and claims to expired products management. Founded in 2020 by Corentin Geoffray, a tech entrepreneur, and Clément Goupy, a former pharmaceutical representative, the digital platform streamlines the relationship between pharmacies and their suppliers and helps them work better together.
By using Faks’s platform, pharmacies are freed from considerable administrative work and can dedicate more time and attention to their patients. Furthermore, groups of pharmacies can more easily federate the members of their network. At the same time, Faks enables suppliers’ sales and support teams to gain operational efficiencies.
Victor Felguera, a Key Account Manager at Modilac Laboratory and one of Faks’s users, comments:
“By combining all the transactions negotiated with our pharmacy partners into one intuitive interface, Faks has given us real fluidity and saved our sales force considerable time.”
As proof of its value add to the pharmaceutical sector, Faks is now the leader in the French market. With a growing network that includes 12,000 partner pharmacies (60% of the French pharmacy network), 118 pharmacy associations, and more than 700 pharmaceutical companies (including industry giants like Biogaran, Biocodex, and Bouchara), the company aims to consolidate its leadership position and expand into new European markets.
Corentin Geoffray and Clément Goupy, Co-founders of Faks emphasise:
“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.”
On why we invested, Felix Martinez from our investment team comments:
“We’re thrilled to be partnering with Corentin and the Faks team, who are going after one of the least digitized industries within the healthcare sector – pharma. Since launching, Faks have already onboarded 60% of French pharmacies onto the platform and have a number of paying labs and powerful network effects coming into play. We think the early love they’re seeing for the product is testament to both how much their product is resonating in this underserved market and also to the team’s ability to execute.”
We are excited to participate in Faks’s €5 million funding round alongside our friends at Connect Ventures and Cocoa Ventures. The funds will help Faks to further strengthen its leadership position in France and fuel its European expansion and grow its technical and commercial teams.
For more information visit faks.co.
