Beyond Capital Ventures in African eyecare deal
Venture capital firm Beyond Capital Ventures has made an investment in Lapaire, a pan-African eyecare company.
For the best experience and to access our Connect industry chat platform, download the Africa Private Equity News app: Android | iOS
Venture capital firm Beyond Capital Ventures (BCV) has made an investment in Lapaire, a pan-African eyecare company leveraging innovative technology to provide free vision tests and affordable eyewear options to the lower- and middle-income African population.
Africa has an estimated 550 million people with untreated vision problems who lack access to affordable and reliable eyecare services that meet their needs. These customers often rely on conventional opticians or non-profits to provide inadequate products and services.
Founded in 2018 by Jerome Lapaire, a Swiss-born lawyer and entrepreneur, Lapaire targets underserved, low-income, and price-sensitive customers. Forty-five percent of Lapaire’s customers are under the national median income, and 70% are either first-time glasses wearers or have been previously unable to afford a pair. Lapaire’s Series B round will allow the company to invest in more than 450 branches across new and existing markets, purchase new testing equipment, and expand production facilities. The company’s ambitious goals include growing to 500 stores by 2027 and launching into five new markets including Democratic Republic of the Congo, Ghana, Guinea, Nigeria, and Tanzania.
* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.