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French health insurance company Alan says it has reached an agreement on a €480m funding round, valuing it at €5.5bn.
The new Series G funding round follows just months after Alan announced a €100m funding round at a €5bn valuation. Paris-based Alan has raised more than €1.2bn in total.
The latest funding round is being led by tech investing giant Prosus, a new investor, alongside existing shareholders Teachers’ Venture Growth (TVG) and Index Ventures, as well as new investor Dara Holdings. According to the FT, Prosus’s investment includes fresh capital and buying up secondary shares.
Digital health app Alan, founded in 2016, provides health insurance and wellness insurance to businesses, public service organisations, and freelancers. It has more than 1.1 million customers, it says.
Employing 850 people, it operates across France, Spain, Belgium and Canada. This year it struck a deal with French football star Kylian Mbappé who has invested in Alan and is a brand ambassador.
It says in Q1 2026, it hit more than €800 million in Annual Recurring Revenue (ARR). The Paris-based company says it’s the first company to “bring insurance, prevention and care together in a single integrated experience – combining health coverage, care navigation, wellbeing services and AI-powered health assistance”.
Alan, which leverages AI in its products, says it will use the funds to speed up the expansion of its model in new countries, deepen its presence in existing markets, including France, Belgium, Spain and Canada, pursue acquisitions, and invest in AI healthcare services and product innovation.
Jean-Charles Samuelian-Werve, co-founder and CEO, Alan, said: “For ten years, we have shown that technology can turn healthcare from reactive to proactive, helping people act early instead of reacting late. That is what prevention insurance is, and it’s the category we are building. We selected Prosus for their very deep expertise in international expansion.”