Browsing: How to invest in African startups

• With the funding for growth, Lapaire intends to open 300 eye care centres.
• Eye care in developing countries like Kenya and many other African states remains underfunded.
• While it initially began with a B2B sales approach, it has since abandoned that model, favouring direct contact with the customers.

Kenya-based Eyewear Startup Lapaire has secured $3 million (KSh476 million) in private equity funding for growth initiatives across African markets. Following the deal’s closure, Lapaire intends to open 300 eye care centres, targeting 80 new outlets by December 2024.

Impact investment fund Investisseurs & Partenaires (I&P) led the equity round with AAIC, FINCA Ventures, and Beyond Capital pitching in. Cross-Boundary provided advisory support for the deal through USAID’s Africa Trade and Investment activity.

“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 to positively impact …