It’s one of the largest European funding rounds of the year beyond the AI hype: French health startup Alan has raised a Series G round of €480 million (around $550 million). The new valuation stands at €5.5 billion ($6.3 billion) – an increase of roughly €500 million over the previous round in March 2026, when Alan was still valued at just above €5 billion.

The round is led by Amsterdam-based tech group Prosus, one of the world’s largest technology investors, which backs delivery services such as iFood and Swiggy and recently acquired Just Eat Takeaway. It is Prosus’ largest investment in the healthcare space to date. Also on board are existing investors Teachers’ Venture Growth (TVG) and Index Ventures, as well as new backer Dara Holdings. Closing the round remains subject to regulatory approvals, including from the French financial authority ACPR.

From health insurer to “prevention insurance”

Founded in 2016 by Jean-Charles Samuelian-Werve and Charles Gorintin, Alan was the first newly licensed health insurer in France since the 1980s. Since then, the pure-play digital insurer has grown into a broad healthcare platform that bundles insurance, prevention and day-to-day care into a single app. Alan calls this approach “prevention insurance” – the idea of shifting healthcare from a reactive system that treats illness toward a proactive model built around prevention and long-term health.

Alongside classic insurance, the offering includes personalised prevention plans, a virtual clinic available seven days a week, an online optical centre and direct access to doctors through the platform. Speed is a key selling point: according to the company, the average response time by phone is around 20 seconds, 99% of reimbursements are processed within a day, and 70% of those in under an hour. Customer satisfaction consistently sits above 4.2 out of 5, the company says.

More than €800 million in revenue, profitable in France

Alan is entering this new growth phase from a position of strength. In the first quarter of 2026, the company surpassed €800 million in Annual Recurring Revenue – up 53% year-on-year. In France, by far its largest market, Alan is already profitable. By year’s end, the company is targeting more than one billion euros in ARR, according to the “Financial Times”.

With more than 850 employees, Alan now serves over 1.1 million members and more than 37,000 businesses, as well as self-employed professionals and retirees. The startup is active in four countries: France, Spain, Belgium and Canada. Notably, despite its growth, Alan is deliberately keeping headcount growth limited – a sign of the operating leverage of its heavily AI-driven model.

AI as a growth driver – and Prosus’ entry into healthcare

Artificial intelligence sits at the heart of the partnership. Alan is betting that AI can make personalised prevention, navigation through the healthcare system and support available to everyone. Prosus, in turn, gives Alan access to its in-house “Large Commerce Model” (LCM) and its international expansion network – particularly in markets where Alan has no brand recognition yet.

In return, the deal gives Prosus a foothold in a new sector: Alan is set to become a building block of a broader “life-assistant” strategy through which Prosus is expanding its consumer ecosystem into healthcare. “Healthcare presents one of the most significant global opportunities for AI-led transformation,” said Fahd Beg, Head of Investments at Prosus.

CEO and co-founder Samuelian-Werve – also known as a co-founder and adviser of French AI champion Mistral AI – stresses that the company “deliberately chose Prosus for their very deep expertise in international expansion and consumer products.” His take on the mission: health can’t wait – not for symptoms to worsen, not for an appointment six months out, and not for the system to catch up. That, he says, is exactly what Alan aims to change with “prevention insurance”.

With the fresh funding, Alan plans to drive international expansion, pursue potential acquisitions and continue investing in AI, healthcare services and product development. The long-term goal: to make the prevention-focused insurance model the preferred standard for healthcare worldwide.

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