Lapaire, a pioneering eyewear startup based in Africa, has recently garnered significant investment from AfricInvest and Proparco to bolster its expansion efforts across the continent. AfricInvest is set to infuse $2.5 million into the venture, while Proparco will augment this with a contribution of EUR 450,000 (approximately $490,278) through its Bridge by Digital Africa initiative.
This influx of capital is strategically aimed at improving access to optical care in Africa, a region where the World Health Organization (WHO) has identified that a staggering 80% of people with visual impairments are not receiving the necessary treatment.
The fresh funds will empower Lapaire to not only strengthen its operations in existing markets but also to venture into new territories, specifically Senegal, the Democratic Republic of Congo, and Tanzania. This move marks a significant stride forward for the startup, which had previously raised $3 million just nine months earlier to facilitate its continental growth.
Lapaire was established in 2018 by Jérôme Lapaire, a Swiss entrepreneur who relocated to Kenya in 2015. The company has since emerged as a prominent optical retail chain, offering high-quality eyewear solutions across various West and East African nations, including Ivory Coast, Benin, Togo, Mali, Burkina Faso, and Uganda.
With over 80 optical shops under its belt, Lapaire is committed to providing complimentary eye examinations to determine the vision requirements of its customers. The brand’s equitable pricing model and flexible payment plans are designed to make essential eye care services more attainable for the broader population.
The WHO reports that Africa is home to one-sixth of the world’s blind population, with an additional 26 million individuals suffering from different levels of visual impairment. Despite this pressing need, only a fraction of those requiring cataract surgery actually undergo the procedure, and a vast majority of those with myopia remain untreated. Furthermore, a mere 12% of Africans who require glasses or surgical interventions for blurred vision manage to receive such care, resulting in a substantial economic burden for the affected countries.
Jérôme Lapaire has underscored the critical role that the financial and technical backing from Proparco and AfricInvest plays in the expansion of Lapaire’s optical care network across Africa. The goal is to positively impact the lives of 1 million individuals by 2026.
Faisal Jiwa, a Senior Partner at AfricInvest, has voiced his enthusiasm for supporting the Lapaire team through the Transform Health Fund. He has reiterated his dedication to enhancing the accessibility and affordability of eye care for the low- and middle-income groups that are often neglected on the continent.
AfricInvest, a seasoned player in investment and financial services, manages the Transform Health Fund. This fund is designed to provide customized financial solutions that can scale innovative business models, thereby delivering affordable healthcare to Africa’s underserved communities. The fund is managed in collaboration with the Health Finance Coalition.
In a significant fundraising milestone, the Transform Health Fund amassed $111 million in October 2024, with the express purpose of backing enterprises that offer proven healthcare solutions, particularly those targeting the most vulnerable segments of the population.
