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Remedial Health, an Africa-focused healthtech startup, has secured $12 million in an equity and debt funding round to deepen the penetration of its services in Nigeria and support the delivery of targeted financial services to drive business growth across the country’s pharmaceutical sector.

The $8 million Series A equity funding round was led by US-based venture capital firm, QED Investors and co-led by Ventures Platform, who have now invested in Remedial Health at every funding round since the pre-seed stage. This investment also represents Ventures Platform’s first Series A investment. Ycombinator, Tencent, and Gaingels also invested after participating in previous rounds.

The $4 million debt funding was led by a consortium of local and international financial institutions.

Remedial Health delivers digital procurement infrastructure to power healthcare distribution for Africa’s 1.2 million pharmacies, the company said. In Nigeria, the healthcare startup is working with more than 300 manufacturers and serving more than 5,000 hospitals, pharmacies, and patent medicine vendors across 34 of Nigeria’s 36 states.