Helium Health, a Nigerian health tech company, has recently secured $30 million in a Series B funding round. The funding will be used to expand the reach of its fintech product, HeliumCredit.
Helium Health aims to use technology to efficiently manage healthcare records in Africa and provide access to credit for healthcare providers through HeliumCredit.
The funding round was led by AXA IM Alts and saw participation from investors such as Capria Ventures, Angaza Capital, Anne Wojcicki (Founder of 23&Me), and Flatworld Partners. Existing investors Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC also participated in the round.
HeliumCredit, launched in 2020, offers loans to hospitals, clinics, pharmacies, and diagnostics centers for purchasing medical equipment, and medication, and facilitating business expansions. So far, Helium Health has disbursed over $3.5 million in loans to around 200 healthcare facilities through HeliumCredit.
In addition to its funding news, Helium Health plans to launch HeliumCredit in Kenya this year. The company also aims to increase its lending portfolio to 1,000 healthcare facilities by 2024, in partnership with the U.S. International Development Finance Corporation (DFC).
Helium Health’s CEO and co-founder, Adegoke Olubusi, expressed the company’s commitment to supporting healthcare providers with finance, technology, and data to improve healthcare access in Africa. The company also plans to continue scaling its SaaS suite for healthcare providers through HeliumOS, its Electronic Medical Records and Hospital Management Information System (EMR/HMIS) solution.
Investors, such as Noor Sweid, Managing Partner at Global Ventures, have shown confidence in Helium Health and its suite of products. Sweid highlighted the company’s deep understanding of Africa’s healthcare sector and its ability to build products tailored to its needs.
Overall, the funding secured by Helium Health will contribute to its mission of making quality healthcare accessible to more Africans by leveraging technology and providing financial solutions to healthcare providers.
