- Prosus is leading a €480 million funding round for the French health insurtech Alan, now valued at €5.5 billion. That’s at least €500 million more than its valuation just three months ago.
- Alan now brings in over €800 million in annual recurring revenue, has grown 53% year over year, and is profitable in France—all with only 850 employees.
- This investment aims to make ‘prevention insurance’ a new category. Prosus plans to add Alan to its consumer ecosystem, which already includes iFood, Swiggy, and Just Eat Takeaway.
Most people only go to the doctor when something is wrong. Alan has spent the past 10 years trying to change that, and Prosus is backing this effort with its largest investment yet.
In June 2026, the Amsterdam-listed group announced a €400 million investment in the Paris-based health insurer, valuing it at €5.5 billion. Existing investors, Teachers’ Venture Growth and Index Ventures, also joined the round, along with new investor Dara Holdings.
The European health insurance market was worth $517 billion in 2025 and could reach $772 billion by 2034, according to IMARC Group. Alan wants to capture a big share by making insurance a proactive tool for prevention, not just something you use when problems come up.
What Alan does
Alan was founded in 2016 by Jean-Charles Samuelian-Werve, who also co-founded Expliseat, and Charles Gorintin, who worked at Facebook, Instagram, and Twitter. They set out to rebuild health insurance digitally in a market that hadn’t licensed a new independent insurer since 1986.
Alan combines insurance, prevention programs, and direct care in a single app. Members can message doctors, use mental health resources, and check their reimbursement status on the platform. Most reimbursements are processed within 24 hours. Alan operates in France, Spain, Belgium, and Canada, serving more than 1.1 million people and 37,000 businesses with a team of 850.
Alan keeps its team small on purpose. Its AI handles underwriting, claims, and member engagement, helping the company grow efficiently without the high costs associated with traditional insurers.
As of Q1 2026, Alan reported €800 million in annual recurring revenue, a 53% year-on-year increase, and profitability in France, its largest market.
Who’s backing Alan and why
Prosus isn’t usually known for healthtech investments. The group is better known for backing food delivery and fintech companies, like iFood and Swiggy, and recently agreed to buy Just Eat Takeaway for €4.1 billion. Its early stake in Tencent was also a big success. Healthcare at this scale is new territory for Prosus.
Prosus says Alan will serve as the base for a broader life-assistant ecosystem and give the group a foothold in a new sector. In return, Alan gets access to Prosus’s Large Commerce Model AI and its international expansion network in markets where Alan isn’t yet known.
Fahd Beg, Prosus’s head of investments, says, “Alan has built something unique: an integrated platform where insurance, prevention and care delivery reinforce each other, creating an exceptional healthcare experience for consumers and outstanding platform engagement.”
Samuelian-Werve adds, “We selected Prosus for their very deep expertise in international expansion and consumer products and to benefit from the incredible ecosystem they are building.”
With this round, Alan’s total funding is now about $1.3 billion across nine rounds. Its last raise was a $116 million Series G in March 2026, which valued the company at over €5 billion. This new deal boosts the valuation by at least €500 million in under three months.
A growing field and a bold claim
Alan isn’t the only company trying to change European health insurance. Wefox raised €151 million to grow its broker-led model in Austria, Switzerland, and the Netherlands. Doctolib leads appointment booking in France and Germany, and UK-based Bupa offers private coverage across Europe with a traditional claims model.
Alan stands out by combining insurance, prevention, and care on a single platform, calling this approach prevention insurance. This is a new category, and Alan wants to be a pioneer.
The wider market is moving in Alan’s favour. European digital health companies raised $1.2 billion in venture funding in Q1 2026, with health insurtech making up $116 million, according to Galen Growth. Specialist funds are growing too. As TFN reported in May, Lauxera Capital closed a €520 million healthtech fund in less than 18 months, signalling greater institutional confidence in European healthcare beyond early-stage investments.
Alan’s performance numbers back up its growth plans. The big question is whether Prosus can help Alan expand beyond France into markets where it doesn’t yet have brand recognition, regulatory ties, or distribution channels. This funding round will be an important test.
