Grace Ashiru
Nigerian e-health company Helium Health has received US$30 million in Series B funding to grow its fintech product, HeliumCredit.
AXA IM Alts led this round of funding. Capria Ventures, Angaza Capital, Anne Wojcicki, and Flatworld Partners were also investors in this round.
Some current investors who took part were Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC.
Helium Health started in 2016, quickly turning hospitals and clinics into digital places with its Electronic Medical Records/Hospital Management Information System (EMR/HMIS) offering. In West Africa, this product is the most famous of its kind.
In comparison, HeliumCredit was created in 2020 to give loans to healthcare institutions like hospitals, clinics, pharmacies, and diagnostic centres so they could grow and buy more medical supplies and equipment.
More than $3.5 million in loans have already been given to about 200 healthcare facilities through the scheme.
We think that all Africans will be able to get good health care in the future, not just a few. We are dedicated to helping private healthcare providers and public health stakeholders achieve this goal by giving them money, technology, and data. The CEO and co-founder of Helium Health, Adegoke Olubusi, said, “We are thrilled to have such experienced healthcare investors join us on our journey.”
The fund will be used to start HeliumCredit in Kenya this year and grow its loan portfolio to 1,000 healthcare facilities by 2024. This brings Helium Health’s total investment to US$42.12 million after a US$10 million Series A in 2020.
