Online Pharmacy Farmaconfianza Raises €345,000 on Crowdcube

Digital pharmacy Farmaconfianza, a company that specializes in cosmetics and natural supplements, has closed a €345,425 crowdfunding round via Crowdcube to finance its growth plan. In total, 99 investors participated in exchange for 12.73% of the company’s capital.  According to Crowdcube, largest contributions came from prominent technological and related pharmaceutical company investors

Farmaconfianza was founded in March 2013 by pharmacist Mónica Lizondo to sell pharmacy products online from a local office. Since then, the business has transformed into an e-commerce company specializing in natural cosmetics, pharmaceuticals, and natural supplements. The company has a hybrid business model, focused on business to consumer online sales, with the support of a regional Associated Pharmacy Network, where clients can pick up prescriptions and seek advice.

Farmaconfianza’s goal is to compete in a highly fragmented market and grow with a profitable cost of capturing new customers and a high repeat customer rate. Currently, Farmaconfianza has 75,000 registered users and generates around 3,000 monthly orders. It has doubled its revenue every year since launch and reached € 970,000 in sales in 2016.

This is Farmaconfianza’s second funding round having raised € 265,000 in 2016 through private investors. Major contributions came from renowned entrepreneurs from the artificial intelligence and mobile technology sectors, as well as pharmaceutical companies from Farmaconfianza’s own Associated Pharmacy Network.

 


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