How using our e-commerce expertise helped Medino scale
Who are Medino?
Medino are a London-based digital pharmacy start-up. In October 2020, they closed a £5.6m funding round to further establish their share of the UK market.
Advanced investor reporting
Following Medino’s successful round of funding, the business was required to produce more regular, detailed reports to be circulated to their investors.
Ensuring reporting is timely, useful, and professional is imperative to boosting investor relations.
Abacai worked closely with the management team at Medino to tailor the reports to include key metrics that are valuable to e-commerce investors.
Using market leading reporting software, Abacai were able to present the reports in an improved visual and interactive format, removing this burden from the management team.
A finance function to enable growth
As the business scaled, Medino required a more comprehensive finance function to cater for their increased requirements and transactions.
Medino were looking for a service that was above and beyond hiring an internal accountant.
Abacai took over the finance function, including the bookkeeping, compliance and reporting requirements to allow the team at Medino to focus on growing the business.
Medino have unlimited access to their own dedicated chartered accountant and can leverage Abacai's e-commerce expertise when required. This gives them the confidence to focus on scaling their business at a rapid pace.
Medino required a responsive accounting service as the business started to scale rapidly.
They needed same day responses rather than waiting days or weeks for a reply.
As with all clients, Medino has a private Slack Channel with Abacai.
Various members of the team have ongoing access to their dedicated chartered accountant who acts as an extension of their team. Medino get the support they need when it's needed.
"Having Abacai as a specialist e-commerce finance function takes away the administrative burden of running a business. Abacai gives us the reassurance and confidence that we need to scale, especially when faced with more complex accounting requirements."
Christian Jakobsson, Managing Director and Co-Founder
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