French health insurtech Alan raises €40m
Alan, the health insurance company, has raised a €40 million Series B round led by Index Ventures, and partners of DST Global.
French health insurance firm Alan has raised over €75m in total
This announcement follows the company’s €23 million Series A round in April 2018. Alan has raised more than €75 million in the three years it has been operational.
Index Ventures is also an investor in firms like Adyen, BlaBlaCar, Dropbox, Robinhood, and TransferWise.
Alan says it is the only licensed health insurance company in France since 1986, and it offers a range of possibilities through tech: from choosing a doctor to getting reimbursed.
Tom Stafford, managing partner of DST Global, comments: “Legacy solutions lead many employers to provide limited and inefficient health insurance for their employees. Through Alan, companies can sign-up quickly and easily and offer best-in-class healthcare for their employees at a competitive price and in a digital format.”
The company has grown its insured base to 27,000 and its revenue to €22 million in 2018, covering firms like My Little Paris, Le Slip Français, Ledger and Converteo. The team also grew from 14 to 64 people in the same year.
The firm claims to be very close to breaking even. This funding comes to accelerate investment in quicker payments, quote answers, and best-in-class customer service; offer new services; and user base and team growth.
