The pharmaceutical sector increasingly relies on digital solutions to streamline operations, and Paris-based Faks has positioned itself as a key player in this space. The company has secured €6 million in a funding round, with Speedinvest leading the investment and contributions from Connect Ventures, Seedcamp, and FJ Labs. This financial backing will support the company’s expansion, technological advancements, and the recruitment of additional talent. As pharmacies face mounting administrative challenges, Faks aims to simplify interactions by integrating suppliers, pharmacies, and associations into a single platform.
Faks has previously focused on refining its platform to meet the needs of pharmacy professionals, but the latest investment marks its most significant growth phase. The startup has consistently expanded its reach, now serving over 17,000 pharmacies, 500 laboratories, and 130 pharmacy associations. While pharmacy management platforms have existed for years, many solutions remain fragmented, leading to inefficiencies. Faks’ approach differs by providing a centralized system designed specifically to reduce operational burdens and improve workflow efficiency.
How does Faks support pharmacies?
The company’s platform connects pharmacies with suppliers and pharmacy associations, facilitating order management, promotions, and restocking. Many pharmacies currently handle these processes manually, leading to inefficiencies. By automating these interactions, Faks enables pharmacy professionals to dedicate more time to patient care. According to the company, 85% of French pharmacies now use its platform, highlighting its integration into the industry.
Faks’ independence from pharmacy associations and laboratories allows it to function as a neutral intermediary. This ensures that pharmacies can manage supplier interactions without being tied to specific networks. As a result, tasks such as tracking expired products, handling claims, and monitoring stock become easier. The platform leverages AI to automate routine tasks, allowing users to focus on critical decision-making.
What will the new funding be used for?
The €6 million investment will be allocated to expanding Faks’ research and development division, with plans to double its R&D team from 7 to 15 employees. The company intends to introduce new features that enhance automation and improve its overall efficiency. These updates will focus on streamlining backend operations and integrating additional AI capabilities.
Beyond technological improvements, the funding will also support Faks’ international expansion, with Spain and Italy being the next target markets. By entering these regions, the company aims to replicate its success in France and address similar inefficiencies in the broader European pharmaceutical sector.
“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.” — Corentin Geoffray, CEO & Co-founder of Faks
The increasing complexity of pharmacy operations has driven demand for centralized solutions. The pharmaceutical industry often struggles with supplier coordination due to varying systems used by different laboratories. Faks’ model of consolidating interactions into a single platform has gained traction, particularly as pharmacies deal with growing administrative workloads. The investment comes at a time when digital transformation in healthcare is accelerating, but the sector still faces integration challenges.
While pharmacy software has been available for years, many existing solutions lack the automation and connectivity that Faks promises. Automating supplier interactions and stock management has the potential to reduce errors and improve efficiency. However, the company will need to adapt its platform to the distinct regulatory environments of different European countries. Success in Spain and Italy will depend on how effectively Faks can address local market needs.
