Charac raises £1.2m in debt and equity from NPA and pharmacy owners

Digital pharmacy app Charac has raised over £1 million in debt and equity, bringing total funding to date for the London-based startup to £2.5m.

Pharmacy Business understands while the majority of the new finance, worth about £1.2 million, comes from the National Pharmacy Association (NPA) coffer, the
remainder is put forward by a number of individual pharmacy businesses.

The pharmacy sector is in a state of crisis, experiencing nearly two closures per week over the past two years, Charac said in a statement.

According to data from the NHS Business Services Authority, there are now only 11,026 community pharmacies in England, the lowest number since 2015. The current
crisis is attributed to escalating operational costs, a shortage of staff, and diminished government financial support.