Paris-based Faks, a mobile application that helps pharmacists and laboratories collaborate, announced today they have raised €6 million to grow its tech team, develop new products and features, and accelerate its expansion across Europe.
The funding round was led by Speedinvest, with support from existing investors Connect Ventures, Seedcamp, and FJ Labs.
“This funding marks a key milestone for Faks. After bringing together major industry players on one platform that simplifies their interactions, we are now investing heavily in our technology to help them save even more time and focus on what matters most: their patients,” said Corentin Geoffray, CEO & Co-founder of Faks.
Founded in 2020 by Corentin Geoffray and Félix Pignard, Faks is innovating the way pharmacies, pharmacy associations, and pharmaceutical laboratories collaborate.
The company remains independent from both pharmacy associations and pharmaceutical laboratories, ensuring that pharmacies have access to a neutral, easy-to-use platform to manage all their post-sales operations in one place—including promotions, claims, expired product management, and more.
While the digital transformation of medical services and pharmacies has accelerated since the COVID-19 crisis, Faks argues that commercial interactions between pharmacies, pharmacy associations, and laboratories remain largely fragmented and outdated.
According to figures provided by Faks, on average a pharmacy works with around 100 different laboratory suppliers, each with its own systems and procedures for promotion, restocking, and customer support. Without a centralised solution, pharmacists spend over 30% of their time managing these interactions, juggling emails, handwritten notes and Excel files.
This scattered approach can create a heavy mental load, leading to missed business opportunities, and impacting pharmacy profitability.
To solve these challenges, Faks has developed proposes their platform—a commercial back-office that centralises, organises, and automates exchanges between pharmacies and suppliers.
Today, 85% of French pharmacies use Faks, connecting over 17k pharmacies, 500 laboratories, and 130 pharmacy associations.
With this new investment, Faks plans to boost automation with AI and new features. To support this evolution, the startup will double its R&D team, growing from 7 to 15 employees, by recruiting talent in tech, product, and data.
At the same time, Faks is expanding internationally , with a focus on Spain and Italy; two strategic high-potential markets.
“The growing diversification of pharmacies’ activities, on top of their most important role of advising patients, has left little time to manage back-office operations from order to stock management. We see a huge potential in centralising all their supplier interactions in a single platform and automating tedious – yet strategic – tasks with AI. We have been impressed by Faks’ ability to stay focused on pharmacies’ critical needs, with the vision of reducing their operational burden and making everyone in the ecosystem (pharmacies, associations, laboratories) work more closely together,” added Wissam Nasreddine, Principal at Speedinvest.