Phlo – Digital Pharmacy is a UK-wide app that allows you to order and track your prescriptions in real-time with on-demand delivery, and maintain control of your healthcare. Phlo intends to become the UK’s leading on-demand Digital Pharmacy and is growing at a phenomenal rate. To accelerate the process, it has launched a crowdfunding effort through Crowdcube that is backed by both the Future Fund and the British Business Bank. This is the first online Pharmacy crowdfund EVER in the UK and gives investors the opportunity to own a stake in this promising start-up. Any initial investment will be converted to company shares in the future.
What is Phlo?
Phlo is the very first on-demand, same-day delivery Digital Pharmacy of its kind in the UK. It connects both NHS and private patients with their prescription needs throughout the length and breadth of the country. It also recently secured a contract with Babylon Healthcare (BBYL.TA), the UK’s biggest Telemedicine company. Babylon provides its health service consultations remotely, connecting doctors and health professionals with patients via text and video messaging. This contract allows Phlo to provide its pharmacy services to Babylon’s entire patient base. Phlo is further growing its partner network and offers tailored partnerships to businesses.
Image taken from the Phlo Digital website
Founded by Nadeem Sarwar, in Glasgow, he built the company after recognising the need for a streamlined prescription process. Rather than being constrained by the limitations of Doctor to Pharmacy logistical processes, lack of stock and long waiting times. Sarwar believed a simpler solution was possible and Phlo was born. In collaboration with the NHS, he built a patient first online Pharmacy, integrating with NHS systems to provide same-day, real-time delivery that fits around a patient’s life.
How does Phlo Work?
Phlo’s app means you have a pharmacy home delivery service in the palm of your hand. It has been well received and is operating successfully. By May it had tripled pharmacy capacity and has seen an average monthly revenue growth of 73% throughout 2020, along with an average monthly patient growth of 43%.
The company is striving to provide an unrivalled first-class service and going by its glowing 5-star TrustPilot reviews, its efforts are being rewarded:
“Super quick and efficient service
I had my consultation with the GP at 9am, and by 11am I had my prescription delivered to my door. This is incredible service.“– Alice
Phlo Digital Pharmacy can be relied on for same day and next-day prescriptions, from a telephone call with your doctor to medicine at your door in record time. In London this can be within a 4-hour window and one reason for crowdfunding is so it can roll this service out to other major cities across the UK. The company employs a qualified pharmacy team to provide patient assistance through email, live chat, and telephone calls.
Image taken from the Phlo Digital website
.png){kind=link}
Growing demand
The global pandemic has seen a surge in demand for both digital healthcare and home deliveries, and this is particularly important when it comes to prescriptions. With many people advised against visiting a pharmacy or would prefer not to, the need for prescription delivery services has surged.
The world’s population is ageing, bringing with it a host of health problems that will need medical attention. With the NHS bursting at the seams, any help it can get to improve is gratefully received. Phlo’s digital offering is streamlining prescription services and keeping patients happy, which is undoubtedly beneficial to the NHS.
England’s NHS repeat prescription market is valued around £12 billion. This is set to grow, meaning the market opportunity is immense. As of last month, Phlo had serviced over 4000 patients!
As an early stage company showing growth and demand, this is a fantastic opportunity for investors to benefit. The Crowdfunding pre-launch has already begun and as the very first online UK pharmacy crowdfunding EVER, demand on the day is expected to soar. Early indications are showing promise and the high likelihood of an oversubscribed launch day.
Why invest?
There are several enticing reasons you don’t want to miss out on this one of its kind investment opportunity:
Phlo is using what is known as a “Convertible Loan Note”. The key difference between a convertible loan note and an equity round is instead of immediately purchasing equity shares at the existing share price, the investor purchases shares at a future valuation when large institutional investors join but with a discount agreed today.
As an early investor, you will receive an 8% return on your investment until it converts into shares at the next funding round.
Your investment is guaranteed to convert to ordinary shares, no matter how much you initially invest.
You’ll receive a 20% discount on Phlo’s share price when your investment converts into shares at Phlo’s next funding round.
Phlo will also offer a series of tiered investment benefits including free delivery for life and referral benefits to friends and family.
Why Crowdfund?
UK-based crowdfunding website Crowdcube is a success story that tops its very own success stories, as it crowdfunded for its own growth back in 2016 and raised £6.7m. It recently announced it will merge with rival Seedrs to jointly capitalise on their victories going forward, cut costs, and deliver new services to investors and companies.
BrewDog is the now infamous Crowdcube success whose initial fund raise back in 2016 reached £4.1m, and the company is now worth an eye-popping £2 billion! Another with its roots in Scotland, BrewDog is a popular craft beer company with a firm presence in America, successfully selling its wares all over the world. Meanwhile Revolut, a revolutionary FinTech company, was also propelled to dizzying heights thanks to the power of crowdfunding and is now worth over $5.5 billion (£4.25bn).
In order to meet the rising demand and grow as quickly as its founders would like, Phlo Digital is launching its crowdfunding effort to expand. It hopes to raise £1.8 million and intends to use the funds raised to invest in the following areas:
Scale its real-time, same day delivery service across England
Build iOS and Android native apps
Introduce new product features
Expand its team, premises and capabilities.
Where and when can I sign up?
Learn more about Phlo’s exciting Crowdfunding campaign HERE ON CROWDCUBE.
Being the first UK online pharmaceutical crowdfunding EVER, there’s a very high chance it will be oversubscribed. Don’t miss out and look forward to some brilliant investor benefits.