The Lapaire Brand Glasses
Lapaire has landed funding from AfricInvest and Proparco to expand its area of influence. This development comes nine months after the startup raised $3 million to drive expansion across the continent.
Proparco and AfricInvest together approved financing for Lapaire Glasses SA, an optical retail chain offering quality eyewear at a fair price in West and East Africa (Ivory Coast, Benin, Togo, Mali, Burkina Faso and Uganda). This funding comprises a €2.5 million contribution from AfricInvest and €450,000 from Proparco, facilitated through the Bridge by Digital Africa initiative.
According to a World Health Organization report, an estimated 80% of individuals suffering from visual impairments in Africa do not receive adequate care. This investment will empower Lapaire to enhance its presence in existing markets while facilitating entry into new ones, including Senegal, the Democratic Republic of Congo, and Tanzania. The funding will also significantly improve Lapaire’s distribution network, ensuring broader access to essential optical care.
Jérôme Lapaire, a Swiss national who moved to Kenya in 2015 founded Lapaire in 2018. The startup operates over 80 retail outlets where it provides free eye tests, allowing customers to obtain accurate prescriptions for corrective lenses. By implementing a reasonable pricing strategy and offering installment payment plans, Lapaire has made vision care accessible to its target populations, with 70% of its customers purchasing corrective eyewear for the first time at Lapaire.
With 58 eye care centers currently operational, Lapaire has tested the eyesight of over 300,000 individuals and employs around 350 staff members. The company plans to expand its operations significantly, targeting the establishment of 300 additional eye care centers within the next two years, including 80 new locations by the end of 2024.
“The financial and technical support from Proparco and AfricInvest is crucial for continuing to develop our optical care network across the continent and achieving our goal of improving one million lives by 2026.” CEO Lapaire said.
Sadio Dicko, Regional Director of Proparco, expressed support for Lapaire’s mission, noting, “Proparco is pleased to support a committed player like Lapaire, whose operations facilitate better access to optical care for populations that often lack the means. With its policy of affordable pricing and free eye tests, Lapaire aims to create a positive impact, enabling a broad segment of the population to access quality care.”
Faisal Jiwa, Senior Partner at AfricInvest, had this to say, “AfricInvest is proud to support Lapaire through the Transform Health Fund, contributing to making optical care more accessible for low-income populations across an increasing number of African countries.”
Africinvest is an investment and financial services company. Its notable Transform Health Fund provides tailored financial solutions to scale innovative business models, ensuring affordable healthcare for Africa’s underserved populations. AfricInvest manages the fund in partnership with the Health Finance Coalition. In October 2024, the Transform Health Fund raised $111 million to support enterprises that deliver proven healthcare solutions, particularly those serving vulnerable populations.
