New Investments

Egyptian Digital Marketplace Pharmacy Marts Secures Funding for Growth and Expansion

Pharmacy Marts, a leading digital marketplace for pharmacies in Egypt, has secured a six-figure bridge round of funding from Acasia Ventures, an early-stage venture capital firm.

This new investment will fuel the company’s ambitious plans for growth and international expansion.

Founded in 2021, Pharmacy Marts aims to revolutionize the pharmaceutical supply chain in Egypt by connecting pharmacies with suppliers through a user-friendly online platform.

Recognizing the challenges pharmacists face in securing financing, Pharmacy Marts also offers access to working capital and long-term financing options, including “Buy Now, Pay Later.”

With this latest funding round, Pharmacy Marts has secured a total of US$2 million to date.

The company boasts an impressive reach, covering approximately 20% of Egypt’s pharmacies (over 12,000) and collaborating with more than 200 suppliers.

“The distribution of medication in Egypt has historically been unreliable,” said Ahmed Kadous, CEO and co-founder of Pharmacy Marts.

“Our goal is to improve patient access to medication by addressing inconsistent product availability across pharmacies. This not only benefits patients but also simplifies the lives of pharmacists.”

Kadous expressed his enthusiasm about Acasia Ventures’ involvement, highlighting their strong presence in targeted African markets and valuable network of industry experts.

Acasia Ventures managing partner Aly El Shalakany is confident in Pharmacy Marts’ future, recognizing them as a frontrunner in the digital healthcare space.

“We are impressed by the company’s strong team and their innovative solution that addresses a critical need,” said Shalakany.

“We believe Pharmacy Marts is well-positioned for continued success, improving the lives of pharmacists and patients across Egypt and beyond.”

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