Helium Health, a Nigerian Startup, Secures $30 Million in Series B Funding

Helium Health, a Nigerian health tech startup, has secured $30 million in a Series B funding round aimed at supporting the growth of its fintech product. This funding comes three years after the company raised $10 million in a Series A round, bringing its total funding to $42.12 million.

The Series B round was led by AXA IM Alts and saw participation from 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 joined the round.

Helium Health plans to utilize the funding to expand its fintech product, HeliumCredit, and increase its lending portfolio to 1,000 healthcare facilities by 2024 through a partnership with the U.S. International Development Finance Corporation (DFC). Additionally, the company aims to scale its SaaS suite, HeliumOS, which offers Electronic Medical Records and Hospital Management Information System (EMR/HMIS) solutions to healthcare providers.

Commenting on the new funding, Helium Health CEO/co-founder, Adegoke Olubusi, said: 

“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 visionWe are delighted to have such seasoned healthcare investors accompany us on our journey.” 

The Managing Partner of Global Ventures, Noor Sweid, one of the participating investors in this round expresses confidence in Helium Health and its suite of products.  

“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 said.  

Helium Health, a healthtech startup founded in 2014 by Adegoke Olubusi, Tito Ovia, and Dimeji Sofowora, has emerged as a leading player in leveraging technology for effective healthcare records management in Africa. With support from Y Combinator (YC), the company has developed the most extensive Electronic Medical Records (EMR) platform in West Africa, utilized by over 10,000 healthcare professionals across 1,000 facilities to provide care for more than 1 million patients in Africa.

With a team of 150 individuals operating in ten countries, including Nigeria, Ghana, Senegal, Liberia, Kenya, Uganda, Qatar, and the UAE, Helium Health is actively seeking to deepen its collaborations within the public health and global health communities. This strategic focus aligns with the company’s commitment to advancing healthcare solutions on a broader scale.

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