Pharmarun lands $10,000 investment at Pitch2Win 2023
Summary
Too often, I heard people talking about how only pharmacies situated on the island [a more bourgeois part of Lagos and miles away from the mainland] had a medication that they needed, recalls Teniola. As word spread, people started reaching out to her on WhatsApp, asking her to locate specific drugs and deliver them.The demand for her assistance increased significantly during the COVID-19 pandemic when movement restrictions made it even more challenging for individuals to access pharmacies. To instil confidence in potential clients, the website was designed to include features such as Speak to a pharmacist, to assure users that real people were behind the platform. Because the BNPL services are embedded at the checkout, they are not run on the balance sheet of Pharmarun, so the startup doesnt need to work on recovering the loan from customers.Pharmaruns operational model may evoke comparisons to Jumia, as users can simply place an order and have medications delivered to their doorsteps. Oystr Finance which facilitates easy access to alternative financial data, creditworthiness assessment, and borrower identification verification came third.Get the best African tech newsletters in your inbox