Axon’s LatAm fund sees potential in Online Drugstore, PideFarma

Axon has invested in PideFarma, an online drugstore that provides a delivery service for pharmacy orders. A pioneer in its industry within LatAm, it is currently providing services in Bogotá and Medellin

Axon’s investment will support PideFarma to consolidate its presence in these cities and to begin to expand throughout the rest of Colombia. PideFarma has reached more than 2,000 monthly orders and is growing at a rate of 50% month on month.  It also attracts over 40,000 web visits per month, a number they are hoping to multiply by four before year-end.

Colombia’s drugstore market is worth USD 2.2bn, with just USD 2m making up the online presence of offline players.  With 18,000 products in its catalogue, PideFarma is treading new ground in Colombia and with its strong team, comprising experienced entrepreneurs and new management additions in entrepreneur Miguel Boada, PideFarma is on track to go from strength to strength in a market with much potential.

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