Mexico City November 30, 2018 – Lentesplus.com (www.lentesplus.com), a company that offers the most convenient and greatest value option to buy contact lenses, today announced the completion of its Series A round. Palm Drive Capital led this new round of financing along with existing investors IGNIA, InQlab, and other angels. The round has been structured in two closings, with US$3.8 MM committed in the first closing and US$1.2 MM expected in a second closing by the end of 2018. With this new round, the company has raised 9 million dollars in equity investments since its beginnings in 2014.
Seamon Chan, Managing Partner at Palm Drive Capital, stated, “With Lentesplus.com we see founders who are extremely dedicated to improving the consumer experience. Latin American consumers have been historically underserved and have had a lower contact lens usage relative to the rest of the world. By removing the friction and high-costs typically associated with purchasing contact lenses, Lentesplus.com is well-positioned to be a game changer and leader in reshaping Latin American commerce, in the same way that Jet.com and JD.com respectively did for the US and China”.
In a market where customers are traditionally required to physically go to an optical shop, paying prices as much as 3x higher than the US and facing limited inventory and availability, the Lentesplus.com platform allows customers to purchase contact lenses online simply, efficiently and more economically.
Headquartered in Bogotá, Lentesplus.com operates in Mexico, Colombia, Chile and Argentina. The company’s streamlined process allows for short delivery times (same day delivery in major cities) and seamless customer service, while offering competitive prices and a complete product offering via its digital platform. In LATAM, where 43% of the population suffers from some form of visual problem and requires eye care services, Lentesplus.com is bringing an innovative and highly convenient alternative service to the traditional market.
“We have seen the Lentesplus.com team consistently execute, develop and improve a world-class platform and service that delights customers. We are thrilled to participate in this next phase of growth, and look forward to working alongside new investors, Palm Drive, and incorporating their deep sector experience”, commented Christine Kenna, Partner at IGNIA.
“We are glad to continue supporting Lentesplus.com in its path of growth with old and new partners who add value to the company”, said Gregorio Márquez, Director at InQlab.
Jaime Oriol, Co-Founder of Lentesplus.com, said, “we enthusiastically welcome Palm Drive on board and are grateful for the support of our investors to support our international expansion”.