Helium Health secures $30m funding to power healthcare financing

The Lagos-based well being tech firm secures $30 million to powercredit score financing to healthcare suppliers by way of its fintech product, HeliumCredit score.

Helium Health, a Nigerian healthtech firm, has secured $30 million in funding from a Series B funding spherical. According to Helium Health, the funding will probably be used to increase the attain of its fintech product, HeliumCredit score. With its newest funding spherical, Helium Health has raised a complete of $42.12 million. In 2020, the startup raised a notable $10 million throughout its Series A funding spherical.

This spherical of funding was led by AXA IM Alts, with participation from Capria Ventures, Angaza Capital, Anne Wojcicki (Founder of 23&Me) and Flatworld Partners. Existing traders together with Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI and AAIC additionally participated within the spherical.

Founded in 2014 by Adegoke Olubusi, Tito Ovia and Dimeji Sofowora, Helium Health is targeted on exploring  the function of know-how in effectively managing healthcare data in Africa.  With this newest funding, the corporate will increase its attain by providing healthcare suppliers entry to credit score by way of its fintech product, HeliumCredit score.

HeliumCredit score was launched in 2020 to present hospitals, clinics, pharmacies and diagnostics facilities with loans to buy medical gear and drugs, in addition to to facilitate enterprise expansions. According to Helium Health, over $3.5 million in loans has been disbursed to about 200 healthcare amenities via HeliumCredit score.

Helium Health has nice plans for enlargement. The firm is about to launch HeliumCredit score in Kenya this yr and also will enhance its lending portfolio to 1,000 healthcare amenities by 2024, in partnership with the U.S. International Development Finance Corporation (DFC).

“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,” mentioned Adegoke Olubusi, Helium Health CEO/co-founder whereas talking on the funding. “We are delighted to have such seasoned healthcare investors accompany us on our journey.”

Noor Sweid, Managing Partner, Global Ventures, one of many collaborating traders on this spherical expresses confidence in Helium Health and its suite of merchandise. “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,” he mentioned. 

Helium Health says it can additionally proceed to scale its SaaS suite for healthcare suppliers via HeliumOS, its Electronic Medical Records and Hospital Management Information System (EMR/HMIS) resolution