Medino Online secures £5.6 million Series A investment

Digiqole ad

London-based digital pharmacy startup, medino, raise £5.6m to further drive its enormous growth through 2021 as ‘The Pharmacy In Your Phone

medino has become a vital service for over 130,000 customers throughout the UK as it aims to make digital the first choice for pharmacy shopping through its convenient online service

Having grown 600% between January and September 2020 vs the same period in 2019, London-based digital pharmacy startup, medino, today announces that it has closed a £5.6m funding round to further establish its share of the UK market.

Investors from previous rounds have also continued to contribute in the latest financing round, joining leading investors as well-known major shareholders in other highly successful online pharmacies. Arctic Securities AS acted as sole manager in relation to this most recent round of funding.

Lars Elfversson, CoFounder of medino:

We have seen how our service has not only managed to cope with increasing demand but the testimonials from customer’s shows that fast, reliable and safe deliveries of pharmacy products is here to stay. With this funding we will accelerate our growth and promote our service to the masses. We are excited to be at the forefront of the digitisation of pharmacy shopping.

The team at medino have played an important role in helping customers shop their pharmacy essentials without the need to leave their home, particularly through 2020.

They’ve delivered more than 100,000 orders since the UK was officially put into lockdown on 16th March and taken on thousands of new customers.

They are on a mission to make pharmacy shopping more convenient, applying new digital advances to the traditional pharmacy model. Expanding their product offering to over 5000 health, well-being and pharmacy products, maintaining reliable next-day delivery and lower prices than their competitors, they have grown enormously in 2020.

Their recent funding allows them to continue to expand their marketing efforts in a bid to attract more customers and provide their consistent service to an ever-growing market.

Christian Jakobsson, medino’s Managing Director, states that:

This year has been challenging for us all and the surge in utilising digital services for everyday shopping has been seen across multiple retail verticals. We are proud to have been able to help tens of thousands of customers who have had to isolate and the growth we’ve seen is a testament to our team and the service we provide.

As even more customers turn to online shopping and avoid the high-street altogether, medino has consistently proved to be a convenient choice.

Demand has rapidly increased for medino since January and they’ve managed to keep customer satisfaction at the forefront of their service. As of October 2020, medino has been rated the number one Pharmacy on Trustpilot.

With the medino founders’ roots stemming from a technical background the company has scaled fast using more efficient warehouse systems to offer same-day dispatch and custom pricing tools to make sure they’re providing the best value for customers.

As a fully-certified, registered UK pharmacy, medino has continually pushed digitisation at the forefront of its operations since it’s 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 returning 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 1500+ exceptional consultants over 6 countries, Christian Jakobsson, digital sales and marketing leader who started and developed start-ups in Paris and London, Henrik Blomkvist, technology leader integrated in the start-up scene with a proven track record of developing services for global audiences, and Viktor Holmberg, technology expert within machine learning and AI with extensive experience in large infrastructure systems.

They have grown medino to become a key player in the health and well-being industry in their two years of operation. 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:

Digiqole ad

Safiya Marzook

Related post