Nigerian health-tech firm, Helium Health, has raised $30 million in a Series B funding round.
According to the company, they plan to use the funds to expand its fintech product, HeliumCredit.
“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,” Adegoke Olubusi, CEO and co-founder said about the new raise.
“We are delighted to have such seasoned healthcare investors accompany us on our journey.”
Helium Health has raised $42.12 million in its most recent fundraising round.
During its Series A investment round in 2020, the firm raised a noteworthy $10 million.
AXA IM Alts led this round of fundraising, which was joined by Capria Ventures, Angaza Capital, Anne Wojcicki (Founder of 23&Me), and Flatworld Partners. Existing investors in the round included Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC.
Helium Health, founded in 2014 by Adegoke Olubusi, Tito Ovia, and Dimeji Sofowora, is interested in the role of technology in efficiently managing healthcare data in Africa.
HeliumCredit was established in 2020 to give loans to hospitals, clinics, pharmacies, and diagnostics centres for the acquisition of medical equipment, and medication and to help in expansion.
Helium Health has big aspirations for growth. HeliumCredit will be launched in Kenya this year, and the business plans to expand its lending portfolio to 1,000 healthcare facilities by 2024 in collaboration with the United States International Development Finance Corporation.