• Thu. Nov 7th, 2024

Taarifa News

Latest News Around the Globe

Lapaire Secures $3 Million Investment to Propel Eyecare Revolution in Africa

Jan 11, 2024
290 300

Lapaire, the forefront panafrican eyecare company, has successfully secured a $3 million equity investment in a funding round led by I&P (Investisseurs & Partenaires), marking a significant milestone in its mission to revolutionize eyecare across Africa.

With a vision to open 300 new eye care centers, Lapaire has been a catalyst in transforming the eyecare industry in Africa since 2018. The company is committed to providing a trusted and accessible experience, employing a one-stop-shop customer-centric approach, and offering stylish quality eyeglasses at fair prices.

Founder and CEO Jerome Lapaire stated, “We worked hard to build a highly scalable model, and we are now in the best position to accelerate our growth to positively impact the lives of 1 million people across the continent by 2026.” The $3 million equity round saw participation from international investors AAIC, FINCA Ventures, and Beyond Capital.

The newly acquired funds will be strategically utilized to expand Lapaire’s footprint in existing and new African markets, as well as to optimize its operations using a disruptive approach in the eye health market.

Since its inception in 2018, Lapaire has tested the eyesight of over 300,000 people, with 180,000 individuals witnessing improved lives. Operating in six African countries (Côte d’Ivoire, Togo, Benin, Mali, Burkina Faso & Uganda) through 58 branches, Lapaire attributes its success to fair prices, a customer-centric service, and quality, stylish eyeglasses.

With an ambitious goal to serve the untapped market of people living with uncorrected refractive errors—estimated at 500 million people in Africa—Lapaire expresses gratitude to investors, customers, partners, and its dedicated team. Special acknowledgment goes to historical investor Saviu Ventures for their instrumental role in Lapaire’s journey.

Advisory support for this transformative investment was provided by CrossBoundary through USAID’s ATI program, aligning with the US Government’s Prosper Africa initiative. Additionally, Lapaire was part of EYElliance’s inclusive optical scale-out cohort, further contributing to its commitment to widespread eyecare accessibility

Leave a Reply

Your email address will not be published. Required fields are marked *