Mevo, the Brazilian digital prescription platform, closed a new round led by Prosus, the investment giant that also controls iFood. With this move, the startup accumulates US$57.8 million raised in total and accelerates its expansion in Brazil’s digital health ecosystem.
How Mevo works and makes money
Founded in 2018, Mevo does not charge for issuing digital prescriptions. Their business model is based on what happens after the medical procedure. On the one hand, the startup works with pharmaceutical laboratories that pay for brand exposure within the platform: there are already 20 active laboratories and another 40 in negotiation.
On the other hand, its main source of income is Mevo Shop, a marketplace that connects patients with pharmacies such as Panvel and Venâncio, in addition to its own pharmacy, Mevo Farma. In total, the platform has 1,600 connected points of sale.
This year, hospitals and clinics operating with Mevo alone will generate around 50 million prescriptions, up from 35 million the previous year.
The acquisition that changed the scale
After Series B, Mevo bought its competitor Receita Digital for an undisclosed amount. The move doubled the number of active doctors on the platform and opened the door to a segment that was not previously in its focus, such as doctors who work outside hospital networks.
With this expanded base, the startup estimates to reach 15 million patients in total, adding all its care channels, including 130 municipal health departments and philanthropic hospitals in the public system.
What’s coming for Mevo
The regulatory context also plays in its favor. At the end of 2024, the Brazilian health agency Anvisa enabled digital prescription for controlled medications, those with a prescription held in a pharmacy, a category that represents about 5% of all prescriptions in the country. This new front could become a relevant source of monetization for Mevo in the short term.
With the fresh US$16 million, the company plans to add 100 employees and accelerate its different verticals. If the numbers keep pace with the last 18 months, in which they doubled all their metrics, Series C could arrive sooner than expected.
