Mobile money manager Lemon has expanded its digital wallet feature to Android and released Lemon for Business.
Lemon.com launched the Lemon Wallet about 6 weeks ago. Since then, over half a million cards have been stored on its platform which offers an easy and secure way to store financial information online. Users snap photos of the cards in their wallet and save them to Lemon. This is useful in the event that your physical wallet is lost or stolen, and also offers a convenient way to to make online purchases without continually inputting card numbers and expirations dates.
Lemon for Business is an extension of the company's initial product, which was a tool to manage receipts and expense reports. The new functionality allows people to submit their receipts directly to their employer, eliminating the need for forms and reports.
Since launching in 2011, Lemon has acquired over 2 million users. It announced raising $8 million in June and used the investment to hire more engineers to work on these new features. That investment was led by Maveron, with contribution from Lightspeed Venture Partners, Draper Fisher Jurveston, and others.
While there are similarities with other digital wallets like Square, Passbook, and Google Wallet Lemon's product targets the spender (as opposed to the merchant). Rather than attempting to change consumer behavior, it attempts to replicate it digitally. It also supports loyalty cards, ID cards, and insurance cards.
Lemon was founded by in 2011 and is based in Palo Alto.