Helium Health Secures $30 Million Funding to Propel African Expansion

Highlights:

• Helium Health has raised US$30 million in Series B funding for fintech product 

• AXA IM Alts led the financing, which included Capria Ventures, Angaza Capital, Flatworld Partners, LCY Group, WTI, and AAIC

Helium Health, a Nigerian e-health business has raised $30 million to increase the availability of its fintech product, HeliumCredit.

This loan was secured by AXA IM Alts’ Series B investment. Capria Ventures, Angaza Capital, Flatworld Partners, along with Anne Wojcicki, Co-Founder / CEO of 23andMe, were among the new investors. Existing investors included Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, together with AAIC.

Adegoke Olubusi, CEO / Co-Founder of Helium Health stated that, “We are committed to assisting both commercial plus public healthcare providers with funding, technology, and data to make this a reality. We’re thrilled to have seasoned healthcare investors on board for this objective.”

Helium Health’s future goal is to commence HeliumCredit in Kenya this year. It aims to grow its lending portfolio to 1,000 healthcare institutions by 2024. It has partnered with the United States International Development Finance Corporation (DFC) to achieve this goal.

Furthermore, the company plans to scale up its SaaS suite for healthcare providers through HeliumOS, an Electronic Medical Records and Hospital Management Information System (EMR/HMIS) solution. The expansion is primarily targeted towards East Africa and the Gulf Cooperation Council countries.

Helium Health was set up in 2016, to offer digital and financial solutions for hospitals and clinics. The company’s offerings span EMR/HMIS solutions to quick credit availability for healthcare organisations. Its products are at present widely used across West Africa.