Alan valued at €5.5bn as Prosus leads €480m raise

French healthtech company Alan has secured €480m in a Series G funding round, pushing its valuation to €5.5bn. Dutch investment giant Prosus led the round, which also drew participation from existing backers Index Ventures and Teachers' Venture Growth, alongside new investor Dara Holdings. The transaction remains subject to regulatory approvals.

The capital injection arrives as the digital insurer reports surpassing €800m in annual recurring revenue during the first quarter of 2026. This figure marks a 53 percent increase compared to the previous year. The platform currently serves more than 1.1 million people and has reached profitability in France, its primary and most established market.

Alan's trajectory reflects a broader shift in how capital is being deployed across European technology markets. Rather than funding unproven concepts, investors are backing mature platforms that have demonstrated an ability to generate substantial revenue and navigate complex local regulatory hurdles. Achieving a €5.5bn valuation as a European health platform underscores that significant scale is possible domestically before pursuing broader international expansion.

The company’s core proposition hinges on moving beyond basic digital insurance into a full-spectrum healthcare platform encompassing insurance, care, and preventative services. By utilizing an AI-native approach, Alan can offer highly personalized healthcare experiences to its users. Crucially, this technological foundation allows the company to scale its operations significantly without requiring proportional increases in its workforce.

Looking ahead, the partnership with Prosus is structured to accelerate this international growth phase. The Dutch investor intends to provide Alan with access to its proprietary AI capabilities, specifically its Large Commerce Model, to enhance product development. “Healthcare presents one of the most significant global opportunities for AI-led transformation,” said Fahd Beg, head of investments at Prosus.

For Alan’s leadership, the new capital removes constraints on expansion plans. “This round gives us the means to move faster: expand to new countries, deepen our presence where we already are, invest even more in AI and product, and pursue the strategic opportunities ahead,” Jean-Charles Samuelian-Werve, Alan’s CEO and cofounder, wrote on LinkedIn.

Samuelian-Werve, who also played a role in establishing French AI firm Mistral, has historically emphasized user experience over pure technological novelty. He previously noted that Alan’s competitive advantage stems from disrupting a historically stagnant sector. “We were obsessed with rethinking every single part of the user experience in a market that did very little of this, but which is huge and has lots of needs,” he said.