Police are investigating an armed robbery near Coulsdon Town Station last night.
The victim, a 31-year-old man, was walking in an alleyway towards the station when he was approached by two suspects at about 10.30pm.
One of the suspects is said to have threatened the victim with what is described as a small hand gun, before taking his wallet and phone.
A police spokesman said: "Both of suspects are described as white men, approximately 6ft tall and were wearing dark clothing.
"No arrests have been made but enquiries continue."
Anyone who witnessed the incident or who may have seen two men acting suspiciously in the Coulsdon area should call Croydon CID on 0203 276 2266 or Crimestoppers anonymously on 0800 555 111.