London-based private equity firm IW Capital has invested in e-pharmacy company SimplyMeds, Private Equity Wire has reported.
SimplyMeds is a digital pharmacy platform for ordering same day prescriptions and lifestyle products catering to the private and NHS prescriptions market.
Essex-headquartered SimplyMeds is using the funding to explore international market potential through expansion of its distribution channels and for sales and marketing spending.
Dr Saranjit Sihra, co-founder of Simply Meds, said: “We are very thrilled to have IW Capital onboard in helping us grow the business further and expand our potential nationally as the trusted go-to pharmacy service in the UK.”
Parvinder Sagoo, co-founder of Simply Meds, added: “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.”
Douglas Lidgitt, investment director of IW Capital, commented: “We are excited to be part of the growth story of SimplyMeds. The founders, Parv and Sunny, have built an extremely successful platform and our investment will enable them to grow the business materially in the next five years.”
Date published: July 14, 2021