HomeFundingStockholm-based online pharmacy Apotekamo scores €2.5 million

Stockholm-based online pharmacy Apotekamo scores €2.5 million

The portfolio company of Swedish venture builder EPTI, Apotekamo, has just scored €2.5 million in funding. The online pharmacy is focusing on Southeast Europe and footballer Hasan Salihamidžic is a new backer. 

Apotekamo was first launched in Serbia before expanding to Bosnia and Herzegovina during the first quarter of 2022. The company offers a digital pharmacy experience for consumers and suppliers. It boasts a range of both over-the-counter and prescription drugs, as well as digital services such as order processing and payment solutions for external suppliers on Aptekamo’s platform.

Now, the startup has secured a €2.5 million capital investment to fuel further geographical expansion. The funding came from angel funder collective Angelgate AG and FC Bayern Munich’s Sporting Director, former Bosnian professional footballer Hasan “Brazzo” Salihamidžić.

Srdjan Milic, CEO of Apotekamo, commented: “We are delighted with the trust from existing and new investors, especially given the current market climate and the geopolitical situation. It feels great to find common ground on our vision to do good for society and simultaneously become the leading online pharmacy in Southeast Europe. During the first half-year period of 2022, Apotekamo increased its order intake by 740 percent compared with the corresponding period last year.”

The Swedish company has also shared that it has a pre-money valuation of €14.6 million following this new investment. As a part of the financing, Hasan “Brazzo” Salihamidžić became Apotekamo’s third-largest shareholder and will also support its marketing activities.

Hasan Salihamidžić, Sporting Director of Bayern Munich, said: “I am very impressed by Apotekamo’s fast growth and its management. The company has a proven concept in other markets, so it is only a matter of time before the same applies to the rest of Europe. I see a great opportunity in strengthening the healthcare market in my home region and very much look forward to supporting the company in various marketing activities.”

Arli Mujkic, CEO and Founder of EPTI, commented: “We are pleased to continue to support Apotekamo in its growth journey. The company is a typical EPTI case, where we are involved in launching, developing, and upscaling a niche player on a digitally immature market. Apotekamo has made great operational progress over the past year and has seen strong growth in both returning customers and orders. We are happy and proud to have Hasan Salihamidžić on board, an internationally recognised football personality who will contribute to increased visibility.”

Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.
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