Lapaire was founded in 2018 in Abidjan, Cote d’Ivoire to provide affordable eye care, offering eyeglasses starting at 19,000 West African francs ($30), flexible payment installments and free vision tests.
Africa-focused venture fund Saviu Ventures was an early backer, investing in Lapaire three times since 2018 and accruing a 22% stake in the company. Lapaire has expanded to 85 locations across Togo, Burkina Faso, Kenya, Mali, Benin and Uganda and has served more than 300,000 consumers.
Now, Saviu has fully divested its stake to Creadev, an investment firm backed by France’s Mulliez family, which owns the Auchan chain of supermarkets and other brands.
Venture exit
Creadev will support Lapaire’s expansion into Senegal, the Democratic Republic of Congo and Tanzania. “Lapaire’s success is a reflection of the considerable need for affordable prescription glasses across the continent,” said Creadev’s Pierre Fauvet. He said the mission “resonates well with Creadev’s mandate in Africa to support essential goods and services for the many.”
Lapaire closed a Series B round in late 2023 with participation from Beyond Capital Ventures. Last year, it landed close to $3 million from French development financial institution Proparco and AfricInvest’s Transform Health Fund.
