Directo to raise capital
June 21, 2024
DIRECTO, a B2B platform servicing the pharmacy sector supply chain, has launched a $3 million capital raise to accelerate its next phase of growth.
It has also onboarded around 54% of all Australian pharmacies, and more than doubling revenue over the last two years.
The capital injection will enable Directo to achieve short term growth forecasts, building on its current $40 million annualised revenue run rate.
Directo aims to transform the management and interactions of the supply chain for over 3,000 pharmacy retailers, by allowing them to directly order from its database of 180 suppliers and wholesalers, with about 30,000 multi-category products, through a single transaction.
Speaking to Pharmacy Daily, founder and creator of the platform Gavin Upiter (pictured)said, "Directo is integrating the Australian pharmacy wholesale supply chain - a $20 billion annual market by seamlessly digitising the pharmacy-to-supplier journey".
"An average pharmacy can have 50 direct suppliers over and above their main pharmacy wholesaler, so we created Directo to simplify the process and ultimately, reduce the cost of doing business.
"This idea is unique," Upiter said.
"A digitised supply chain platform with rich data that offers bespoke solutions for suppliers and pharmacies, makes the buying process easier, increases sales, and really adds real value to the industry," he explained.
The platform is supported by the International Pharmaceutical Federation's President Paul Sinclair, Arcadia Health Care Chairman David Vaux, and pharmacist Leon Steinkoler.
Fully paid ordinary shares will be offered at $3.26 per share, based on the company's valuation of $25m, with a closing date of Fri 28 Jun.
People can fill out an enquiry form at
https://www.directoau.com/ to register their interest. JG
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