Having surpassed 50,000 orders in December, medino has announced that it has closed a £440k funding round to further fuel its growth.
The business are on a mission to make pharmacy shopping more convenient, applying new digital advances to the traditional pharmacy model. With an ever-growing catalogue of over 3000 health, well-being and pharmacy products, they have quickly gained traction with a thriving customer base in the UK.
The funding enables medino to continue its quick growth, providing an exceptional pharmacy healthcare service much needed by the public.
Christian Jakobsson, medino’s Managing Director, said: “We see how the convenience of e-commerce has had a huge impact on multiple retail sectors, but for some reason, the general public still shops for their pharmacy needs on the high street. We think that medino can help fill the gap in this underserved sector.”
medino addresses the significant lack of convenience with pharmacy shopping, where pharmacy visitors are often faced with a limited selection of products, high prices and opening hours which are unaligned with working hours.
medino have expanded their offering to even include same-afternoon shipping for parts of London and at least one free shipping option on all orders. Its progress and impact have led to this funding round being comprised of a number of angel investors with deep experience in digital and e-commerce as well as leading investors in some of Europe’s fastest-growing online pharmacy’s.
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Lars Elfversson, co-founder added: “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” – Lars Elfversson, co-founder.
Angel Investor Gustaf Eriksson added: “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.”
As a fully-certified, registered UK pharmacy, medino has continually pushed digitisation at the forefront of its operations since its inception. The young start-up has made headway to become a major stockist for a number of its brands and they continue to resonate with new and current customers alike.