Helium Health, an African healthtech startup specializing in software-as-a-service tools, financing, and insights for healthcare providers and public health organizations, has raised $30 million in Series B funding. This comes three years after the company's $10 million Series A and follows a notable Africa-GCC deal with UAE-based healthcare platform Meddy.

This funding round marks the second largest for any African healthtech at this stage, following General Atlantic and fellow YC-backed startup Reliance Health.

In a recent interview, Helium Health's co-founder and CEO, Adegoke Olubusi, provided updates on the company's progress: HeliumDoc, a product combining Meddy's telemedicine capabilities with Helium Health's revenue cycle management service, is already being used in Nigeria, with plans for expansion in East Africa. Additionally, HeliumOS, the core product digitizing electronic medical records and hospital management solutions across Africa, is set to be introduced in the GCC.

While the investment will drive growth in these areas, a significant focus will be on HeliumCredit, the fintech offering of Helium Health.

The startup also plans to expand its reach and increase its lending portfolio to 1,000 healthcare facilities by 2024 in partnership with the U.S. International Development Finance Corporation. This initiative aims to address the healthcare financing deficit in Africa, where many profitable healthcare facilities struggle to access funding due to a lack of insights into their operations.

HeliumCredit, launched in 2020, uses data obtained from Helium Health's software to assess the creditworthiness of customers. The startup has experienced substantial growth since its Series A investment, increasing its credit from $250,000 to over $3.5 million across 200+ healthcare facilities in Nigeria. These loans have helped facilities purchase medical equipment, expand their locations, and improve their overall performance.

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The healthtech startup's broader mission involves addressing the challenges faced by Africa's healthcare sector, which suffers from undercapitalization and a lack of digital infrastructure. With its extensive EMR platform used by over 10,000 health workers across 1,000 facilities, Helium Health aims to create interconnected health information systems and collaborate with public health and global health communities.

The Series B funding round attracted new investors, including Anne Wojcicki, co-founder and CEO of 23andMe, along with Capria Ventures, Angaza Capital, and Flatworld Partners. Existing investors such as AXA IM Alts, Global Ventures, Tencent, and others also participated in the round. The investment will support Helium Health's continued expansion and development of innovative solutions to improve healthcare access and financing in Africa.