The day when the contents of your wallet or purse reside in your Smartphone is coming soon and if successful serial entrepreneur Wences Casares has anything to do with it his Lemon.com will be the platform on which it’s built. Casares’s Lemon.com is a Palo Alto-based start-up operation built around an App that allows consumers to collect and store paper receipts so that they can watch how much money they spend and where and how they spend it. Instead of having receipts pile up in your inbox, or letting them become a jumble in your wallet, you can send them to Lemon.com where they’ll be instantly filed and organized. Pretty much anything consumers place in their wallets or purses can now be easily digitized by taking a photo of it using their Smartphone. Images are encrypted, stored in the cloud and automatically organized in an easy to use and access service. No more rummaging around your wallet or purse to fish out your gift cards or last week’s dinner receipt. Not only will the service help you spend smarter, but could be a god-send for anyone who loses their physical wallet or purse as the App will aggregate all of your credit card and payment services in one place.
Launched in October 2011 with backing from Howard Schultz’s Maveron VC fund, Lightspeed and Social Capital, Lemon.com now has two million users and is positioned to build a new market opportunity around the organization and management of consumer spending information. Casares sees his Lemon on its way to ten million users and the platform as a stepping stone to a set of new services that can help brands connect with consumers. Only 38 years old, Casares is a successful and experienced entrepreneur and knows how to grow and build businesses.