UK challenger pharmacy medino has announced closing a €517K funding round to further fuel its growth. The startup is on a mission to make pharmacy shopping more convenient, applying new digital advances to the traditional pharmacy model.
medino, founded in 2017, aims to make shopping at the pharmacy as convenient as possible, despite an often limited selection of products, high prices and traditional opening hours which are unaligned with working hours. With a digital focus, the company was founded by Lars Elfversson, Christian Jakobsson, Henrik Blomkvist, and wants to become ‘the pharmacy in your phone’. With an ever-growing catalogue of over 3000 health, well-being and pharmacy products, medino offers same-afternoon shipping for parts of London and at least one free shipping option on all orders. Being present in the market for just a year, medino surpassed 50,000 orders in December 2019.
The new funding enables medino to continue its quick growth, providing an exceptional pharmacy healthcare service much needed by the public.
“We have the opportunity to greatly enhance access to healthcare products for all, at the tip of your fingertips with the privilege of super fast delivery and cut-throat prices. As a father myself it is also a duty to make healthcare accessible for all” says Lars Elfversson, co-founder.
“I’m very pleased to be on board with the medino team as they gain rapid momentum in the UK market. The team’s capabilities and their exciting entry into the market illustrate just how big of an impact they have managed to achieve. This is an opportunity to really disrupt and provide a valuable, reliable service for consumers”, says Gustaf Eriksson, Angel Investor.