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Same-day delivery digital pharmacy secures £9m growth investment


Same-day delivery digital pharmacy secures £9m growth investment

The Phlo leadership team with CEO Nadeem Sarwar second from left

Digital pharmacy company Phlo has secured £9m in growth investment that it says will help it scale up to become a “holistic digital healthcare leader”.

Glasgow-based Phlo said the investment, which came via Par Equity, Scottish Enterprise and Thairm Bio, will help it boost its staff headcount, “expand the geographic footprint of its UK operations” and reach more patients with its home prescription delivery and online consultation services.

Since securing £10m in Series A funding in March last year, the company has set up a same-day delivery hub for private and NHS prescriptions in Manchester, building on its initial sites in London and Birmingham.

The company also operates a mail order prescription service throughout England and a ‘digital infrastructure platform for health providers called Phlo Connect, and in the past year has acquired private women’s health medication service Hello Eve and launched a weight management service.

The company says it is “in the process of evolving from a digital pharmacy innovator into a leading UK digital healthcare company” and that it has “over 80,000 patients registered on its secure online prescribing platform”. 

Phlo founder and CEO Nadeem Sarwar commented: “In the UK tech sector, the investment climate has been both unpredictable and incredibly challenging for the past two years. Despite this, Phlo’s investors have provided the leadership team with a huge vote of confidence in our business model and product ecosystem. 

“This gives additional significance to the close of this fresh investment round, which will unlock huge business and growth opportunities across the entire Phlo network.”

Par Equity’s Paul Munn said: “We’re excited to see the developments in Phlo’s next growth phase as we support them to scale across and become and end-to-end digital healthcare provider in the UK.”

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