Paris-based Faks raises €6M from Speedinvest, Seedcamp, others; will double its R&D team

Paris-based Faks has raised €6M in a funding round led by Speedinvest, with participation from Connect Ventures, Seedcamp, and FJ Labs. The investment will support the growth of its tech team, the development of new products and features, and its expansion across Europe.

The French startup operates a B2B platform for the pharmaceutical sector, connecting over 17,000 pharmacies, 500 laboratories, and 130 pharmacy associations. The platform facilitates business interactions within the industry.

Wissam Nasreddine, Principal at Speedinvest, says, “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.”

Helping pharmacy professionals work together

The digital transformation of medical services has advanced since COVID-19, but commercial interactions between pharmacies, pharmacy associations, and laboratories remain fragmented. 

According to a statement from Faks, Pharmacies work with around 100 laboratory suppliers, each with different systems for promotion, restocking, and customer support. Without a centralised solution, pharmacists spend over 30 per cent of their time managing these processes through emails, handwritten notes, and spreadsheets. This is where Faks looks to make a difference.

Founded in 2020 by Corentin Geoffray and Félix Pignard, Faks offers a platform that centralises, organises and automates exchanges between pharmacies, pharmacy associations, and pharmaceutical laboratories.

The company operates independently from pharmacy associations and laboratories, providing a neutral system for managing post-sales operations such as promotions, claims, and expired product management. 

Faks claims that currently, 85 per cent of French pharmacies use the platform.

Capital utilisation

Faks will use the funds to enhance automation with AI and introduce new features. To support this growth, the company will double its R&D team from 7 to 15 employees, hiring in tech, product, and data. 

The company is also expanding into Spain and Italy as part of its international strategy.

Corentin Geoffray, CEO & co-founder of Faks, says, “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.”