InvestiPharm Limited has recently emerged as a pioneering player in the African pharmaceutical industry, operating as the continent’s first financial partner for pharma supply chain businesses.
By utilizing cutting-edge technology, InvestiPharm aims to bridge the gap in the supply chain financing landscape by offering financial credits to health businesses operating within the pharmaceutical supply chain. This eases the capital burden on these health businesses.
The company’s goal is to provide the necessary financial support that will enable pharmaceutical businesses to thrive, ultimately improving access to essential medications and medical supplies for those who need them most.
One of the biggest challenges facing Nigerians is the inability to access life-saving medications due to financial constraints.
Many Nigerians, particularly those living in poverty, struggle to afford even the most basic medications, leading to a significant number of preventable deaths. But InvestiPharm is providing hope to poor Nigerians by offering them access to life-saving medications.
InvestiPharm has enabled pharmacies to offer affordable and accessible medications to those in need, particularly in low-income areas, by removing the capital burden from these businesses.
The company’s innovative financing options include product financing, which involves financing the inventory of pharmaceutical products and offering them to pharmacy retailers on a post-sale credit basis, and invoice financing, which involves providing invoice discounting to pharmaceutical vendors.
Since its momentous launch in January 2023, InvestiPharm has emerged as a key player, facilitating over 10 pharmacies with a substantial ₦2,000,000 ($2,667) worth of inventory. However, their ambitious plans do not stop there.
With a vision to improve healthcare access, InvestiPharm aims to provide an astounding 60 million dollars (45 billion naira) in financial credit to over 1000 pharmacies within the next three years.
The company has also partnered with local organizations, including Drug-IT Solutions, a tech-driven Nigerian pharmaceutical distribution company, to improve access to medications in Nigeria. InvestiPharm’s partnership with Drug-IT has enabled the financing firm to reach even more people in need and provide them with affordable and accessible medications.
InvestiPharm is currently undergoing its pre-seed funding round. The funding will be used to expand its operations across Nigeria, enhance its logistics capabilities, expand its marketing efforts, and improve its technology infrastructure for even better patient outcomes.
The company plans to diversify its product offering by introducing new products such as invoice factoring and purchase order financing, expand in healthcare services and offer value-added services such as telemedicine and health insurance to improve access to quality healthcare in emerging markets, as well as expand its operations beyond Nigeria to other African countries where there is a significant need for pharmaceutical financing solutions.
InvestiPharm’s mission is clear: to improve access to quality healthcare in Africa by supporting small businesses in the pharmaceutical supply chain with the financing they need to grow and thrive.
Through its partnerships, innovation, and commitment to improving access to medications, InvestiPharm is making a significant impact on the lives of Nigerians and transforming the healthcare industry in the country.
The company is not just a financing firm but a beacon of hope for those who have been denied access to life-saving medications due to financial constraints.
Brace yourselves for a paradigm shift in the healthcare industry, as InvestiPharm continues to pave the way for unparalleled transformation.