Lapaire Secures $3 Million Equity Investment Led by I&P for Expanding Eyecare Revolution Across Africa

Lapaire, the pioneering panafrican eyecare company, has successfully secured a $3 million equity investment in a funding round led by I&P (Investisseurs & Partenaires), a trailblazing impact investment fund in Africa.

The capital infusion will power Lapaire’s strategic expansion, aiming to establish 300 new eye care centers across the continent.

Since its inception in 2018, Lapaire has been transforming the eyecare landscape in Africa, offering a trusted and accessible experience.

The company follows a one-stop-shop customer-centric approach, providing stylish and quality eyeglasses at fair prices. With a focus on scalability, Lapaire aims to positively impact the lives of 1 million people by 2026.

“Over the last few years, we worked hard to build a highly scalable model, and we are now in the best position to accelerate our growth.” Jerome Lapaire, the Founder and CEO, expressed enthusiasm about the growth prospects.

The equity round saw participation from international investors AAIC, FINCA Ventures, and Beyond Capital.

The funds raised will be utilized to expand Lapaire’s footprint in current and new African markets. Lapaire, which currently operates 58 branches in six countries, plans to optimize its operations with a disruptive approach in the eye health market.

Since its establishment, Lapaire has tested the eyesight of over 300,000 people, improving the lives of 180,000 individuals.

The company’s success is attributed to fair prices, customer-centric service, and quality & stylish eyeglasses. Lapaire aims to address the untapped market of people living with uncorrected refractive errors, estimated at 500 million people in Africa.

The Lapaire management team extends gratitude to investors, customers, partners, and its dedicated team for unwavering support.

Special acknowledgment goes to historical investor Saviu Ventures, instrumental in Lapaire’s journey. Advisory support for this investment was provided by CrossBoundary through USAID’s ATI program in support of the US Government’s Prosper Africa initiative. Lapaire also participated in EYElliance’s inclusive optical scale-out cohort.