Alan, the Paris-based health insurance startup, has secured €100 million ($116 million) in a new funding round, elevating its valuation to €5 billion ($5.83 billion), up from €4.5 billion in September 2024. Index Ventures led the round, with new investors Greenoaks, Kaaf, and SH participating. Shopify’s Tobi Lütke and soccer player Antoine Griezmann are among the business angels. Belfius, a previous Series F leader and distribution partner, also participated. Alan has experienced significant growth, reaching €785 million in annual recurring revenue in 2025, a 53% increase year-on-year, and aims for €1 billion in ARR by 2026. It has surpassed one million members across France, Belgium, Spain, and Canada, offering coverage through its health insurance and wellness platform. France remains its largest market, where it has achieved operational profitability. Although not yet profitable overall, with net losses of €61 million in 2023 and €56 million in 2024, it is nearing break-even across the group. Alan plans to focus on international expansion and product development, including AI, without targeting full profitability in 2026. CEO Jean-Charles Samuelian-Werve is an advisor and board member of Mistral AI, in which Alan holds a stake. The company has been utilizing AI on its platform, including the AI health assistant, Mo. Alan recently expanded its commercial presence, securing a contract to insure up to 135,000 French civil servants and their dependents. In Belgium and Spain, it counts HP and Volkswagen as clients, and in Canada, it has acquired insurance licenses and launched Alan Clinic, a mental health care service. The funding round highlights Alan’s cultural impact in France, with high-profile investors like Tobi Lütke and Antoine Griezmann. Alan, founded in 2016 by Samuelian-Werve and CTO Charles Gorintin, employs 740 people and has raised approximately €750 million in total.
French insurtech Alan reaches €5B valuation
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