Remedial Health, a Nigerian startup, has raised N415 million to assist pharmacies in Nigeria and Africa. The money will be used to digitize pharmacies across Nigeria and Africa, as well as expand the company’s buy now, pay later scheme, according to the company, which was founded by Samuel Okwuada. In 2020, Victor Benjamin says he wants to assist local pharmacies in adding doctor and diagnostic services.
After two years in operation, Remedial Health, a Nigerian startup that provides funding and supply chain management solutions, has secured N415 million in pre-seed funding. This will aid the startup’s efforts to digitize pharmacies in Nigeria and Africa, as well as expand its buy-now-pay-later program.
According to Nairametrics, notable funders such as Global Ventures and Ventures Platform led the investment, which also included Ingressive Capital, Voltron Capital, Jobberman’s co-founder, Opeyemi Awoyemi, and Angel Syndicate Fund. Olugbenga Agboola and Victor Asemota of Flutterwave are among the other backers.
The startup, which is a part of Silicon Valley’s Y Combinator’s Winter 2022 cohort, aims to solve pharmacies’ supply problems by ensuring that they have products when they need them with an online shop that allows pharmacies to order through an app.
What the company has to say
The pharmacies, according to the company, are less than a 15-minute walk from people’s homes, and the founder, Samuel Okwuada, hopes to transform healthcare in Africa by adding diagnostic services and a doctor to drug stores in neighborhoods.
Remedial Health is a 24-hour service that allows drug stores to manage their operations, place and track orders, as well as store and track patients’ medical records and assist with reporting and accounting.
About the firm
Samuel Okwuada and Victor Benjamin founded the company in 1920 as a private label company.
It aspires to assist in the resolution of inadequacies and inefficiencies that contribute to the growth of fake and adulterated product markets.
The company’s operations in Nigeria are spread across six states, with plans to expand into West Africa and other African markets by the end of 2022. GSK, Pfizer, and AstraZeneca, as well as Orange Drugs, Emzor, and Fidson Healthcare, are among the over 100 medical manufacturers and suppliers it uses.
