€40m finance boost for OCUCO

L&T news
July 15, 2021

Software provider OCUCO has announced a €40m refinancing including a €25m term extension of its facilities with Wells Fargo Capital Finance (Technology Finance Division) and a €10m commitment from the Ireland Strategic Investment Fund (ISIF), with an agreement for another €5m planned. The investment will primarily support continued Research and Development (R&D) as well as product development at Ocuco's global headquarters in Blanchardstown, Dublin. The tech company plans a staffing growth from 80 to 130 software developers to build out the next generation of its omnichannel, clinical and optical practice management systems on the cloud. There will also be an expansion in the company's international teams in the UK, Europe and the US. Leo Mac Canna, founder and CEO, said: "Following the disruption caused by the pandemic on all industries exposed to retail trade, we are delighted to be in a strong position to invest in the future, both for our staff and for our customers, which include independent opticians and some of the world's largest optical retail chains. We believe that the eyecare industry must move online to compete in the future and meet customer demand. The next generation of our products is designed to meet this shift towards mixed provision of eyecare services both online and on-premise."


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