Based in 2016, Alan made historical past has the primary new medical health insurance participant licensed in France since 1986.
French insurtech Alan has hit a €5bn post-money valuation following a €100m elevate led by long-standing backer Index Enterprise.
This makes Alan one of many Europe’s largest insurtechs alongside the likes of Akur8 – additionally from France – in addition to Austria’s DeepOpinion and Eire’s Kota.
The spherical noticed participation from Greenoaks, Kaaf, Belgian financial institution and insurance coverage firm Belfius, and SH, alongside enterprise angels together with Shopify founder Tobi Lütke, and 2018 FIFA World Cup winner Antoine Griezmann.
Based in 2016 by Jean-Charles Samuelian-Werve and Charles Gorintin, Alan made historical past has the primary new medical health insurance participant licensed in France since 1986.
A decade later, the corporate operates in France, Spain, Belgium and Canada, serving greater than 1m members and 37,000 companies. The corporate has greater than 740 staff.
Alan has stated that it’s experiencing sturdy progress, having reached greater than €785m in annual recurring income. It additionally made break-even earnings in its France enterprise – by far its largest market – final 12 months.
In the meantime, Alan is deepening its enterprise presence in Belgium and Spain, the place it counts HP and Volkswagen amongst its clientele. It acquired insurance coverage licences throughout all provinces in Canada the place it has begun business operations.
Though it’s not worthwhile total. The corporate posted internet losses of $61m in 2023 and $56m 2024, however stated that it expects group profitability by 2027.
Earlier than reaching profitability, nevertheless, Alan is directing its consideration in the direction of heavy investments into AI. Samuelian-Werve stated in an announcement that the corporate now has the means to take a position ambitiously, notably into tech and AI.
Samuelian-Werve can also be a co-founding adviser and board member of Mistral AI, the Paris-based AI chief and considered one of Europe’s star tech start-ups. Alan holds a stake in Mistral as properly.
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