Lapaire, an African eyewear startup, has successfully secured funding to expand its operations into Senegal and Tanzania, following a previous $3 million raise aimed at driving growth across the continent.
Founded in 2018 by Swiss entrepreneur Jérôme Lapaire, who relocated to Kenya in 2015, Lapaire has established itself as a prominent optical retail chain in West and East Africa. The company operates over 80 optical shops across several countries, including Ivory Coast, Benin, Togo, Mali, Burkina Faso, and Uganda, and is dedicated to providing quality eyewear.
Lapaire offers free eye tests to help customers assess their vision needs and employs a fair pricing strategy with installment payment options to enhance access to essential eye care for its target audience.
According to the World Health Organization (WHO), Africa is home to one in every six blind individuals globally, with an additional 26 million people experiencing varying levels of visual impairment. Alarmingly, only 14% of those in need of cataract surgery receive it, and over 80% of individuals with shortsightedness go untreated. Furthermore, only 12% of those requiring glasses or surgical interventions for blurred vision receive the necessary care, resulting in significant economic costs for affected countries.
Jérôme Lapaire highlighted the crucial role of financial and technical support from Proparco and AfricInvest in building the startup’s optical care network across the continent, with a goal to improve the lives of one million people by 2026.
Faisal Jiwa, Senior Partner at AfricInvest, expressed pride in supporting the Lapaire team through the Transform Health Fund. He emphasized his commitment to enhancing the accessibility and affordability of eye care for low- and middle-income patients who are often underserved in Africa.
AfricInvest is an investment and financial services firm, and its Transform Health Fund provides tailored financial solutions to scale innovative business models that ensure affordable healthcare for underserved populations in Africa. The fund is managed in collaboration with the Health Finance Coalition.
In October 2024, the Transform Health Fund successfully raised $111 million to support enterprises that deliver proven healthcare solutions, particularly those targeting vulnerable populations.
