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The first online contact lens store in Latin America has announced the closing of its round of financing of Series A for US $ 5 million.
The new series, led by Palm Drive Capital, included the investment funds Ignia and InQlab, as well as several angel investors who participated in the previous ones. EIn total, Lentesplus.com has achieved venture capital financing of US $ 9 million since its founding in 2014.
"We are very pleased and grateful to integrate Palm Drive into this project and our investors to help drive our growth in Mexico, Colombia, Chile and Argentina, as well as to strengthen our expansion. "said Jaime Oriol, co-founder of Lentesplus.com.
The platform allows customers to buy their contact lenses online in a simple way, efficient and much more economical compared to a market where customers are used to having a physical vision, to pay prices up to three times higher than in the US and to cope with limited stocks and low availability of products.
Based in Bogotá, the company is present in Colombia, Mexico, Chile and Argentina and plans to continue growing in these markets. Its business model allows for short delivery times (the same day of purchase in major cities) and efficient customer service, while offering competitive pricing and an extensive catalog of contact lenses.
In Latin America, where 43% of the population suffers from a visual health problem and needs optical medical care, Lentesplus.com represents an innovative and very practical alternative to the traditional market.
"At Lentesplus.com, the founders are extremely dedicated to improving the customer experience.Latin America customers have always experienced failures in this market and the use of contact lenses is less common in this region than in the rest of the world ", explained Seamon Chan, Managing Partner at Palm Drive Capital. "By eliminating the complications and high costs badociated with buying contact lenses, Lentesplus.com has everything needed to position itself as a major player in the market, leading the commercial transformation in Latin America, to the 39, like Jet .com and JD.com did in the United States and China. "
Christine Kenna, Ignia's partner, said that "We have seen how the Lentesplus.com team has consistently executed, developed and improved an excellent platform for their customers, and we are excited to be part of this new phase of growth and working hand in hand with new investors, Palm Drive, by incorporating their deep knowledge of the sector ", said Christine Kenna, partner at IGNIA.
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