Fey — Investor 1-Pager

Procurement intelligence for pharmacies.

Fey runs semi-autonomous procurement — flagging stockouts, sending RFQs, comparing supplier quotes, placing orders against an approved policy, and reconciling deliveries against the PO.

Systems of record tell pharmacies what left the shelf. Fey tells them what to order next. No standalone product owns this layer today.

Four advantages that can't be quickly bought or built.

Built-in distribution

1,029 pharmacies live on Famasi infrastructure across 47+ cities. The integration exists, the trust exists, CAC approaches zero. The base is the launchpad, not the ceiling.

ii.

Connector-first architecture

RxSymphony connects Fey to 20+ pharmacy systems — Dispensary, TitanPMR, RxManager, PioneerRx, mSupply, even spreadsheets. The TAM is every pharmacy on every PMS, not just our own.

iii.

Pharmacist-founded domain moat

Cold-chain rules, controlled-substance constraints, formulary awareness, real-time shortage ingestion from FDA, ASHP, UK DHSC — built in as hard constraints by a licensed pharmacist with a decade of clinical experience. Not replicable with capital alone.

iv.

Already revenue-positive

Most procurement startups raise on theory. We've made $350K from 1,029 paying pharmacies at ~85% gross margin. Pharmacies pay for it today; the next dollar funds expansion, not invention.

The AI procurement category is being funded. None of them are in pharmacy.

Lio

$33M

Series A · a16z
Fortune 500 enterprise

Didero

$37M

First Round · M12
Mid-market manufacturing

Doss

$73M

Madrona · Premji Invest
Mid-market consumer goods

Zip

$371M

BOND
General enterprise

All Fortune 500 and general-enterprise focused. Pharmaceutical procurement is uncontested — and it is the lane where regulatory complexity, controlled-substance rules, and formulary constraints make the domain itself the moat.

$159 per branch. Then outcomes.

$159

Per branch / per month subscription

+1%

Of drug spend processed via Fey

~85%

Gross margin

Unit Economics — 5-branch independent chain

Subscription ($159 × 5 branches × 12 months) $9,540 / yr

Commission (60% of $500K drug spend × 1%) $3,000 / yr

Year-2 ACV per chain $12,540

Gross profit @ ~85% $10,659 / yr

A 20-branch enterprise chain on the same model: $47,160 ACV ($38,160 subscription + $9,000 commission on $1.5M drug spend at 60% routing). Subscription scales with branches. Commission scales with autonomy. CareCapital origination becomes a third stream from the same data asset — no new sales motion.

From $1M raise to 10,000 pharmacies.

Now Live and revenue-positive1,029 pharmacies on Famasi infrastructure. Fey demo-ready. 10 enterprise LOIs signed.

Mo 1–6 Convert the infrastructure baseMigrate the 1,029-pharmacy base onto paid Fey subscriptions. Near-zero CAC.

Mo 4–12 Activate enterprise LOIs10 signed LOIs convert to contracts. Reference cases unlock the next wave.

Mo 6–18 Pipeline + buying-group + PMS partnerships10,000-pharmacy pipeline conversion. Numark, Avicenna, ACPN deals. TitanPMR and PioneerRx integrations.

Mo 12+ Commission revenue compoundsAs autonomy is granted, 1% commission on routed drug spend activates and scales without a new sales motion.

Where the $1M goes.

50%

35%

15%

50% Product & integrationsRxSymphony connectors, agent infrastructure, enterprise APIs $500K

35% Pipeline deploymentConvert the 10,000-pharmacy pipeline; activate enterprise LOIs $350K

15% OperationsTeam capacity, compliance, secondary-market pilot $150K

Built from inside the problem.

Adeola Ayoola

CEO · Co-Founder

10+ years Licensed Pharmacist

ex-mPharma (supply chain; $80M raised)

Market entry, Principle Vitamins (Europe's leading supplements brand)

Faruq Akinwunmi

CTO · Co-Founder

13 years across media, product & growth

Built GTM at Clane (Zelle for Nigeria); designed B2G hospital bedspace utilisation

MPH Health Policy & Management; built modern ERP for 1,000+ pharmacies

Existing Backers Hustle Fund · Microtraction · Gates Foundation · Reckitt · UNDP · Google AI Accelerator

AI procurement agent for pharmacies.