Helium Health, a Nigerian healthcare technology company, has raised $30 million in a Series B funding round. Helium Health will use the funds to expand the reach of his HeliumCredit, a fintech product. In its latest funding round, Helium Health raised a total of $42.12 million, securing his notable $10 million in Series A funding in 2020.AXA IM Alts led the funding round with participation from Capria Ventures, Angaza Capital, Anne Wojcicki (founder of 23&Me) and Flatworld Partners. Existing investors Global Ventures, Tencent, Ohara Pharmaceutical, LCY Group, WTI and AAIC also participated in the round.Founded in 2014 by Adegoke Olubusi, Tito Ovia and Dimeji Sofowora, Helium Health has grown to become one of the companies highlighting the role technology can play in the successful management of medical records in Africa. With this funding, the company will expand its reach by offering access to credit to healthcare providers through its fintech product HeliumCredit.HeliumCredit was established in 2020 to provide loans to hospitals, clinics, pharmacies and diagnostic centers to purchase medical equipment and medicines and to expand the operations of these medical facilities. According to Helium Health, HeliumCredit provides his more than $3.5 million in loans to more than 200 medical facilities. Helium Health will launch his HeliumCredit in Kenya this year. Additionally, the company plans to partner with the US-based International Development Finance Corporation (DFC) to expand its financing portfolio to 1,000 medical facilities by 2024.
“We believe in a future where good healthcare is a reality for all Africans, not just the few. We are deeply committed to supporting both private healthcare providers and public health stakeholders with finance, technology, and data to achieve that vision,”
“We are delighted to have such seasoned healthcare investors accompany us on our journey.”
Adegoke Olubusi, Helium Health CEO/co-founder.
Helium Health also continues to expand its SaaS suite for healthcare providers via HeliumOS, the Electronic Medical Records and Hospital Management Information System (EMR/HMIS).“We have seen first-hand the evolution of Helium Health over the years. The leadership team has a deep understanding of Africa’s healthcare sector and knows how to build products that meet its nuanced needs,”
Noor Sweid, Managing Partner, Global Ventures.
