Helium Health Raises $30 Million in Series B Funding for Fintech Expansion

In a remarkable feat, Helium Health, a Nigerian health tech startup, has successfully raised an impressive $30 million in a Series B funding round. The funds are specifically aimed at fueling the expansion of its groundbreaking fintech product. This significant achievement comes only three years after the company secured a substantial $10 million in its Series A funding. With the latest injection of funds, Helium Health's total raised capital now reaches an impressive $42.12 million, highlighting its growing prominence and the confidence it commands from investors.

The Series B funding round was led by AXA IM Alts, a prominent investor, with participation from a cohort of notable entities including Capria Ventures, Angaza Capital, Anne Wojcicki (Founder of 23&Me), and Flatworld Partners. Furthermore, existing investors such as Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC showed their continued support by participating in this funding round.

Fintech Expansion and Collaboration with U.S. International Development Finance Corporation

Helium Health plans to channel the newly acquired funds toward the expansion of its fintech offering, HeliumCredit. The goal is to extend its lending portfolio to encompass an impressive 1,000 healthcare facilities by 2024. To achieve this ambitious plan, Helium Health will collaborate with the U.S. International Development Finance Corporation (DFC), demonstrating its commitment to providing essential financial solutions to healthcare providers.

In addition to its fintech expansion, Helium Health aims to augment its presence by scaling its Software-as-a-Service (SaaS) suite, HeliumOS. This comprehensive suite includes Electronic Medical Records and Hospital Management Information Systems (EMR/HMIS). By leveraging cutting-edge technology, Helium Health empowers healthcare providers with advanced tools to streamline their operations effectively.

CEO's Vision for Accessible Healthcare

Adegoke Olubusi, the CEO and co-founder of Helium Health, expressed his enthusiasm about the recent funding, stating, "We firmly believe in a future where accessible healthcare becomes a reality for all Africans, transcending the boundaries of privilege. With unwavering dedication, we strive to provide financial resources, cutting-edge technology, and data-driven insights to support both private healthcare providers and public health stakeholders in achieving this vision. We are thrilled to embark on this journey with such experienced healthcare investors accompanying us."

Noor Sweid, the Managing Partner of Global Ventures and an investor in this funding round, expressed confidence in Helium Health and its suite of products. Sweid remarked, "Over the years, we have witnessed the remarkable evolution of Helium Health firsthand. The leadership team possesses an unparalleled understanding of Africa's unique healthcare sector, enabling them to create products that adeptly cater to its nuanced needs."

Pioneering Technology for Efficient Healthcare Records Management

Founded in 2014 by Adegoke Olubusi, Tito Ovia, and Dimeji Sofowora, Helium Health has established itself as a pioneering force in leveraging technology for efficient healthcare records management in Africa. Supported by Y Combinator, a renowned startup accelerator, Helium Health proudly offers the widest-reaching Electronic Medical Records (EMR) platform in West Africa. With over 10,000 dedicated healthcare workers across a network of 1,000 facilities, the company's transformative solutions have positively impacted the care of over 1 million African patients.

Operating in ten countries across the globe, including Nigeria, Ghana, Senegal, Liberia, Kenya, Uganda, Qatar, and the UAE, Helium Health boasts a remarkable team of 150 professionals. The company remains steadfast in its determination to foster deeper collaborations within the public health and global health communities. This commitment serves as the core focus of Helium Health's mission as it continues to spearhead transformative change in healthcare delivery throughout the region and beyond.