IW Capital听has听invested听in e-pharmacy company听SimplyMeds, marking the first external investment in the highly scalable online platform.听
SimplyMeds听is an end-to-end digital pharmacy platform that provides a convenient method of ordering same day prescriptions and lifestyle products while empowering patients to have medical autonomy.听听
While most online pharmacies are designed to service only one sector,听SimplyMeds听caters to both the private and NHS prescriptions market in what is believed to be a market first, having developed the distribution channels and a highly sophisticated platform to effectively serve both sectors.听听
Bootstrapped by two entrepreneurs with extensive experience in the pharmaceutical industry – one a prescribing pharmacist and one a dentist – the company has grown organically over the last five years from a spare room in a surgery to a material player in London and the听South East, with minimal marketing and no external investment prior to IW Capital’s deal.听
With a strong growth plan targeting revenue听in excess of听拢6m over the next 18 months, IW Capital’s funding will accelerate听SimplyMeds’ development and advance its international market potential through an expansion of distribution channels and a comprehensive sales and marketing spend.听听
The experienced entrepreneurial management team behind听SimplyMeds听have a proven exit track record and believe the company is ready for significant scaling.听
“We believe that we are ready to take the next huge leap in our journey and that IWC can help us achieve huge success in our sector. There are very exciting times ahead,鈥澨齭aid co-founder Parvinder Sagoo.听
Douglas听Lidgit, Investment Director of IW Capital, commented:听鈥淲e are excited to be part of the growth story of听SimplyMeds.听听
鈥淭he Founders, Parv and Sunny, have built an extremely successful platform and our investment will enable them to grow the business materially in the next听five听years.鈥�听
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