Founded in 2016, Alan made history has the first new health insurance player licensed in France since 1986.

French insurtech Alan has hit a €5bn post-money valuation following a €100m raise led by long-standing backer Index Venture.

This makes Alan one of the Europe’s biggest insurtechs alongside the likes of Akur8 – also from France – as well as Austria’s DeepOpinion and Ireland’s Kota.

The round saw participation from Greenoaks, Kaaf, Belgian bank and insurance company Belfius, and SH, alongside business angels including Shopify founder Tobi Lütke, and 2018 FIFA World Cup winner Antoine Griezmann.

Founded in 2016 by Jean-Charles Samuelian-Werve and Charles Gorintin, Alan made history has the first new health insurance player licensed in France since 1986.

A decade later, the company operates in France, Spain, Belgium and Canada, serving more than 1m members and 37,000 businesses. The company has more than 740 employees.

Alan has said that it is experiencing strong growth, having reached more than €785m in annual recurring revenue. It also made break-even earnings in its France business – by far its largest market – last year.

Meanwhile, Alan is deepening its enterprise presence in Belgium and Spain, where it counts HP and Volkswagen among its clientele. It received insurance licences across all provinces in Canada where it has begun commercial operations.

Although it is not profitable overall. The company posted net losses of $61m in 2023 and $56m 2024, but said that it expects group profitability by 2027.

Before reaching profitability, however, Alan is directing its attention towards heavy investments into AI. Samuelian-Werve said in a statement that the company now has the means to invest ambitiously, particularly into tech and AI.

Samuelian-Werve is also a co-founding adviser and board member of Mistral AI, the Paris-based AI leader and one of Europe’s star tech start-ups. Alan holds a stake in Mistral as well.

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