Phlo, a UK-based on-demand digital pharmacy, has successfully secured more than £1.9 million through its equity crowdfunding campaign on Crowdcube. The funding round, which has so far attracted more than 800 investors, made its debut last month, originally seeking £1.65 million.
As previously reported, Phlo is on a mission to become the UK’s leading on-demand digital pharmacy. The company states it “empowers” patients to better manage their healthcare by helping them to easily order and track their prescriptions in real-time.
“We are laser focused on patient care, reflected in our 5-star Trustpilot reviews. Our qualified pharmacy team are on hand through email, live chat and phone to support our patients. Phlo provides the UK’s first large-scale real-time delivery service, enabling patients living within the London area to order and receive their medication within a 4-hour window.”
Phlo further revealed that nearly 30 million patients in England are on an NHS repeat prescription with a market value of £15.6 billion.
“With an aging population, the market opportunity is substantial. Additionally, COVID-19 has greatly increased demand for telemedicine and digital pharmacy services. With 43% of adults in England on at least one prescription, Phlo is helping put patients back in control of their medication – anytime, anywhere.”
Funds from the Crowdcube round will be used to continue the development of the Phlo platform. The campaign is now set to close mid-November.
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