Investors back Glasgow firm
Digital pharmacy Phlo beats crowdfund target
Nadeem Sarwar (right) with chief commercial officer Adam Hunter (pic: Terry Murden)
Pharmacy delivery service Phlo has beaten its £1.65 million crowdfunding target within a day of its launch.
By last night the Glasgow firm had raised £1.727m from 237 investors on the Crowdcube platform. The funding round remains open for the next 30 days.
Founder and CEO Nadeem Sarwar, who set up the digital pharmacy last November, announced the crowdfund launch on Saturday and expressed his delight on LinkedIn at its immediate success.
“I’m very grateful for those who have supported us and continue to do so,” he said.
“We remain open for overfunding and will see how we go over the next 30 days! We didn’t anticipate this but we have a unique chance to do something amazing in the pharmacy space during 2021.
“I am so excited for the future of Phlo.”
The firm has established a firm foothold in London, where it delivers prescriptions to patients by bicycle.
Phlo is planning expansion into Manchester and Birmingham as it aims for UK wide coverage.