3 million USD raised by Kenyan eyewear startup, Lapaire to expand across Africa

The Kenyan eyewear startup, Lapaire, has successfully raised $3 million in financing to facilitate its expansion across the African continent. This significant investment round was led by Investisseurs & Partenaires (I&P), with noteworthy participation from AAIC, FINCA Ventures, and Beyond Capital. The injection of funds positions Lapaire strategically to advance its mission of providing accessible eye care solutions throughout Africa.

Following the successful completion of this financing round, Lapaire is poised to embark on an ambitious plan to open 300 eye care centres. An additional 80 locations are earmarked for establishment in 2024, creating a robust network of eye care facilities. This expansion initiative is not only a testament to Lapaire's commitment to enhancing eye care accessibility but also a substantial contributor to employment generation. The plan includes the creation of at least 250 jobs, encompassing roles such as eye specialists, branch managers, sales representatives, and various support positions.

Lapaire has already established its presence with 58 locations across six African nations: Ivory Coast, Togo, Benin, Mali, Burkina Faso, and Uganda. This existing network serves as a foundation for Lapaire's broader strategy, which focuses on consolidating its position in established areas like Ivory Coast, Togo, Mali, and Uganda. The subsequent phase involves expanding into additional African countries, demonstrating Lapaire's commitment to making eye care accessible on a pan-African scale.

Since its inception in 2018, Lapaire has been dedicated to addressing the neglected health sector of eye care in developing nations. In countries such as Kenya and across Africa, accessing eye treatment has been an expensive endeavour, leaving this critical aspect of healthcare underprioritized. Lapaire aims to change this narrative by positioning itself as Africa's premier eyewear brand, with plans to establish clinics initially in major cities and subsequently in rural areas.

The impact of Lapaire's efforts thus far is evident in its claim of providing over 300,000 free eye examinations to prospective clients and delivering eyeglasses to 180,000 individuals. The company identified two primary barriers to widespread spectacle wear among Africans: the prohibitive cost and a lack of awareness. Lapaire addressed the awareness issue by conducting free eye exams, ensuring that individuals were informed about their visual health. To tackle the cost challenge, Lapaire introduced a flexible payment option, allowing customers to pay for their glasses over time. This innovative approach includes a variable payment option, with customers required to pay only 30% of the total purchase amount upfront.

The Lapaire group, which comprises over 300 dedicated individuals, focuses on providing attractive and affordable spectacles to everyone. While eye specialists play a crucial role, a notable aspect is that 80% of the workforce comes from diverse professional sectors. Joséphine Amouroux, Head of Talents & Communications at the Lapaire Group, highlights that many candidates are surprised to discover the range of vocations available at Lapaire, beyond the traditional roles of Opticians and Salespeople. The company's structure encompasses Finance teams managing accounting, Marketing and Communications teams nurturing Lapaire's brand image, Supply Chain teams overseeing product sourcing and logistics, and HR teams driving workforce expansion and skill development through digital tools.

Recognizing the importance of openness and diversity, Lapaire places a strong emphasis on a hiring strategy based on gender equality. This commitment is reflected in the company's achievement of having 49% women in group positions and 32% women in managing roles. Lapaire strives to foster a meritocracy-based, safe work environment, where women can thrive and men contribute positively to closing the gender gap.

Jerome Lapaire, founder and CEO of Lapaire, expresses the company's readiness to accelerate expansion and positively impact the lives of one million people throughout the continent by 2026. Approximately 35% of Africans experience visual problems that can be addressed with eyeglasses. However, the cost of obtaining a pair of glasses remains a barrier for many. In the rapidly expanding digital health sector in Africa, vision care emerges as a viable niche, fueled by increased insurance coverage and a younger demographic driving demand.

Lapaire's vision extends beyond eyewear retail; it aspires to become Africa’s go-to eyewear brand, making clear vision accessible to all. The company's strategic plan to establish eye care centres reflects its commitment to addressing the prevalent visual problems in Africa. By expanding its reach into major cities and eventually rural areas, Lapaire aims to provide high-quality eyeglasses at reasonable prices, empowering individuals to lead fuller lives with clear vision.

In conclusion, Lapaire's recent funding success positions it at the forefront of the eyewear sector in Africa. The investment not only fuels expansion but also contributes to job creation and reinforces Lapaire's commitment to making eye care accessible across the continent. As Lapaire continues to innovate and expand its reach, it plays a pivotal role in shaping the landscape of eye care in Africa.