For us, that meant building a first in class pharmacy service that took advantage of existing technological tools to deliver a service unprecedented in terms of convenience, accessibility and ease of use.
Today, our team has turned that vision into reality – we have serviced over 4000 patients across the UK from Jersey to Orkney since January 2020.
Phlo empowers individuals to take full control of their medication. Our patients benefit from more than just a prescription delivery service- they benefit from having an entire pharmacy on their device, at their fingertips, under their control.
Phlo has been on an incredible growth curve since we launched in late 2019.
In a very short time, the business has gone from strength to strength.
We will use the money raised in this crowdfund to scale our on-demand, real-time Pharmacy service nationwide.
We would love you to be part of the Phlo journey.
Phlo has partnered with Crowdcube in what we believe to be the first Crowdfund campaign for an online Pharmacy ever launched in the UK. Below is a summary of the key points of the round that you should be aware of.
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 you, the investor purchases shares at a future valuation when large institutional investors join but with a discount agreed today.
In practice, this means the money you invest now “converts” into shares at a discount in the future, until that point you earn interest on your investment (find more details below).
The moment your investment converts is called the "follow-up" or “conversion point”, this will be triggered by the next equity raise, likely to be a big venture capital (VC) round in late 2021.
Unlike a straightforward equity investment round, there is no valuation, instead, our next valuation will be created at the conversion point.
Convertible investing also brings several other benefits to investors...
One of the terms of the Future Fund is that investors earn 8% interest on the money they’ve invested whilst it’s waiting to be converted to shares.
To put it simply, let’s say you invested £1,000 and the “conversion point” was exactly one year after the date you invest, you will earn 8% interest on that money and receive £80.
Your interest will then convert to shares at the same discount as your investment. So, in the example above your investment converting to shares would be £1,080.
We think it’s a fantastic way to reward our investors even more!
As mentioned above the valuation is created at the “conversion point”, when your money is converted into shares. We are then offering a 20% discount on that share price.
So, for example, if a VC invests at a £20 million valuation at our next funding round, you’re effectively buying shares at a £16 million valuation. Meaning you’re getting a 20% discount!
Or to put the example in cash terms:
*Example share price only.
To sum up, you’re guaranteed a fantastic discount when your money converts, regardless of the VC valuation at that future date.
We are also offering other benefits on top of investing in the pharmacy of the future! These include:
a) £50 +
Bag yourself a one-off Phlo Branded T-shirt
b) £500 +
Phlo Branded T-shirt & hoodie Plus 12 months free next day delivery
c) £1000 +
Branded T-shirt & hoodie
3 years of free next day delivery
Refer up to 5 friends who will receive 12 months free next day delivery
d) £2500 +
Phlo Branded T-shirt & hoodie
5 years free next day deliver
Refer up to 10 friends who will receive 12 months free next day delivery
e) £5000 +
Phlo Branded T-shirt & hoodie
lifetime free delivery on all deliveries
Refer up to 10 friends who will receive free next day delivery for 2 years
In this blog piece we discuss the differences between generic and brand medication, how generic medicines are marketed and whether their efficacy is similar to brand medication.Read More
Manage, order and track your medication via the app
Chat with Phlo pharmacists via phone, email or live-chat
Choose a delivery option that suits you