Paris-based digital health insurer Alan raised €480 million in a funding round led by Prosus. The deal values the company at €5.5 billion. This transaction includes both new capital and a secondary share sale. It represents one of the largest funding rounds for a non-AI European startup this year. Existing investors Teachers' Venture Growth and Index Ventures also participated.
Alan provides app-based health insurance and virtual care services to over 1.1 million members. The company expects to surpass €1 billion in annual recurring revenue. Management targets this revenue goal by the end of 2026.
Alan will use the fresh capital to expand into new markets. The funds will also support the development of AI-driven healthcare services. New features include a virtual assistant for booking appointments and triaging patients.