Helium Health, a e-health startup based in Nigeria, has successfully raised $30 million in a Series B funding round aimed at expanding its innovative fintech product, HeliumCredit. The funding will support the company’s mission to provide enhanced financial solutions for healthcare facilities across the region.
Established in 2016, Helium Health has revolutionized the healthcare industry by digitalizing hospitals and clinics with its flagship Electronic Medical Records/Hospital Management Information System (EMR/HMIS) product, which has become the most widely adopted solution in West Africa.
In 2020, the company introduced HeliumCredit, a fintech service that offers loans to healthcare providers, including hospitals, clinics, pharmacies, and diagnostics centers, to finance the purchase of medical equipment and medication, as well as facilitate business expansions. To date, HeliumCredit has successfully disbursed over $3.5 million in loans to approximately 200 healthcare facilities, helping them improve patient care and expand their operations.
The recent Series B funding round was led by AXA IM Alts, a renowned global financial institution, with participation from esteemed investors such as Capria Ventures, Angaza Capital, Anne Wojcicki, and Flatworld Partners. Notably, existing investors including Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC also contributed to the round. With this funding, Helium Health’s total investment to date stands at an impressive $42.12 million, following a successful $10 million Series A round in 2020.
The fresh capital injection will enable Helium Health to launch HeliumCredit in Kenya later this year, marking its expansion into the East African market. Moreover, the company plans to increase its lending portfolio to 1,000 healthcare facilities by 2024, empowering more healthcare providers to access affordable financing solutions. Additionally, Helium Health aims to scale its Software-as-a-Service (SaaS) suite for healthcare providers through HeliumOS, its Electronic Medical Records and Hospital Management Information System (EMR/HMIS) solution.
CEO and co-founder of Helium Health, Adegoke Olubusi, expressed his enthusiasm for the company’s future prospects, stating, “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.”
Helium Health’s successful funding round reflects the growing confidence in the potential of African healthtech startups to drive positive change and improve healthcare access across the continent. With its innovative fintech offerings and commitment to delivering quality healthcare, Helium Health is well-positioned to further revolutionize the industry and contribute to a healthier future for all Africans.
