Endeavor Entrepreneur and Global Board Member Wences Casares‘ most recent venture, LemonWallet, recently announced its $50 million acquisition by LifeLock, a U.S.-based identity theft protection company. As one of the first entrepreneurs selected by Endeavor, Wences has been involved in numerous successful companies including Patagon.com, MECK, and Wanako Games, and is a prime example of the Endeavor model, transitioning to serve as an influential mentor and angel investor for the network. Raised on a sheep farm in Patagonia, Argentina, Wences was selected by Endeavor in 1998 for creating Patagon.com, an electronic brokerage site, and subsequently raised $4 million through the Endeavor network. In 2000, he sold a 75% stake in the business to Banco Santander for $750 million, instantly transforming him into one of Endeavor’s top success stories.
The LemonWallet acquisition is adding to his portfolio of entrepreneurial achievements. Launched in 2011 as a free cloud-based receipt organizer and spending tracker, the service allows users snap images of debit, credit, loyalty, health insurance and ID cards, as well as receipts, tickets and coupons, then upload these to a secure account in the cloud. Looking to expand its mobile offerings, LifeLock naturally gravitated towards LemonWallet to round out its security products, acquiring the company and subsequently launching an integrated app that offers customers a primary touch point for managing and protecting their digital identities.
For over a decade, Wences has worked closely with Endeavor, initially to access capital and mentorship through the Endeavor Investor Network and VentureCorps, and then to serve as an investor, mentor and Board member himself.
Read the full press release about the acquisition by clicking here.