FarmaLoop allows customers to choose product prices based on expiration dates.
Co-founder and CEO Michel Tesmer, who developed FarmaLoop with Claudio Cea and Felipe Díaz del Rio, highlights the company’s focus on accessibility and waste reduction.
According to Lucas Saavedra, he notes that 100 million people in Latin America suffer from chronic conditions, with medication costs representing 60% of a family’s health expenditure.
FarmaLoop’s mission is to double its growth in Chile and change the pharmacy concept. Instead of waiting for patients in physical stores, FarmaLoop proactively delivers medications to where they are needed, such as clinics and homes. By 2025, FarmaLoop plans to raise a Series A round to expand into Mexico, a country with high chronic disease rates and significant price differences between branded and generic drugs.
In 2023, FarmaLoop generated $3.5 million in revenue and saved 200,000 medications, providing $880 million in savings to over 300,000 chronic patients.
