Helium Health, a Nigerian e-health startup, has secured US$30 million in Series B funding in order to expand its fintech product, HeliumCredit.
AXA IM Alts was the lead investor in this round of funding, which also included Capria Ventures, Angaza Capital, Anne Wojcicki, and Flatworld Partners.
Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC were among the existing investors who took part.
With its flagship Electronic Medical Records/Hospital Management Information System (EMR/HMIS) product, Helium Health, which was founded in 2016, rapidly transforms hospitals and clinics into digital environments. This product is the most popular of its kind in West Africa.
In contrast, HeliumCredit was introduced in 2020 to offer loans to healthcare institutions like hospitals, clinics, pharmacies, and diagnostics centers so they can expand their operations and buy medical supplies and equipment.
Through the program, loans totaling more than US$3.5 million have already been given to roughly 200 healthcare facilities.
“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,” said Adegoke Olubusi, CEO and co-founder of Helium Health.
The funding will be used to launch HeliumCredit in Kenya this year and expand its loan portfolio to 1,000 healthcare facilities by 2024, bringing Helium Health’s total investment to date to US$42.12 million after a US$10 million Series A in 2020.
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