Medino Online secures £440k investment from business angels

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Young challenger pharmacy, medino, raise £440k to fuel its unparalleled digital growth as ‘The pharmacy in your phone’

medino is taking on the UK high-street retailers to make online pharmacy shopping the natural and more convenient choice for its growing number of shoppers

London, UK, 14th January 2020 – Having surpassed 50,000 orders in December, medino today announces that it has closed a £440k funding round to further fuel its growth. They 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, unparalleled delivery and better prices than their competitors, 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, states that:

“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.”

Being present in the market for just a year, medino has become a leading digital pharmacy with customer satisfaction being at the core of its success. The company 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.

“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.

As a pharmacy, medino is unique. It boasts a team with significant technical experience which allows for enhanced packing and picking processes for instant dispatch, bespoke algorithmic pricing and buying tools to provide customers with the most competitive prices and an easy to navigate website to ensure the shopping experience is entirely hassle-free.

Additionally, through its technological advances, medino is also able to eliminate any human error during dispensing of medication at a much higher rate than traditional pharmacies.

“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” – Gustaf Eriksson, Angel Investor

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.

About medino

medino’s mission is to enable convenience as a core pharmacy shopping experience. With relentless digital focus, the company was founded by Lars Elfversson, who founded European multimillion technology company Netlight Consulting with 1400+ exceptional consultants over 6 countries, Christian Jakobsson, digital sales and marketing leader who started and developed start-ups in Paris and London, and Henrik Blomkvist, a technology leader heavily integrated in the start-up scene who has developed technology services for global audiences.

They have grown medino to become a key player in the health and well-being industry within a year of operating. They have scaled fast and will continue to do so with the new funding they’ve secured.

Their vision is to become the natural choice for all pharmacy shopping and target customers transitioning from retail pharmacy shopping to online – to simply become “The pharmacy in your phone”.

You can find out more about medino here:

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Manoj Ranaweera

Manoj has founded, failed and successfully exited from a number of technology product companies as well as support organisations since 2004. Among them, Northern Tech Awards and were acquired by GP Bullhound and Accusoft, Inc respectively. Today, Manoj is building a trusted support network for technology companies. He is working with founding teams to help them accelerate including raising investment and M&A.

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