Helium Health raises $30 million in Series B round to facilitate healthcare financing
By Cynthia Ezekwe
Helium Health, a Nigerian healthtech company, said it has secured $30 million in investment from a Series B funding round, to facilitate healthcare financing.
With its latest funding round, Helium Health has raised a total of $42.12 million. In 2020, the startup raised a notable $10 million during its Series A funding round.
This round 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 investors including Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI and AAIC also participated in the round.
According to the company, the funding will go into expanding its fintech product, HeliumCredit, and increasing its lending portfolio to 1,000 healthcare facilities by 2024 in partnership with the U.S. International Development Finance Corporation (DFC).
HeliumCredit was launched in 2020 to provide hospitals, clinics, pharmacies and diagnostics centers with loans to purchase medical equipment and medication, as well as to facilitate business expansions.
Helium Health noted that over $3.5 million in loans has been disbursed to about 200 healthcare facilities through HeliumCredit.
Commenting on the new funding, Adegoke Olubusi,Helium Health CEO/co-founder, 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 vision. We are delighted to have such seasoned healthcare investors accompany us on our journey.”
Also, Noor Sweid, managing partner of Global Ventures, one of the participating investors in this round expresses confidence in Helium Health and its suite of products., noting that the leadership team has a deep understanding of Africa’s healthcare sector and knows how to build products that meet its needs.