Alan pulls in €40m Series B, less than a year after previous funding round

Digital health insurance platform Alan has pulled in €40m in its Series B, coming less than a year after its Series A round.

This funding round was led by Index Ventures, as wells as partners of DST Global. Alan raised €23m in its Series A last year and since the company was founded in 2016, it has received over €75m in equity funding.

France-based Alan is a fully-digital insurance solution for companies and independents. Consumers can access life insurance for themselves or families and select the number of years they wish to be covered for.

The insurance startup witnessed strong development last year, boosting its customers from 5,000 to 27,000 and its revenue from €3.5m to €22m.

After closing this round, the company will look to aim to offer quicker payments, quotes, and improve the customer service. As well as this, the InsurTech is looking to create new services, and grow its user base in France, with a focus on SMEs and self-employed customers.

Last year, the company increased its team size from 14 to 64 and it looking to further this growth by having a team of 175 employees by the end of the year.

Alan co-founder and CEO Jean-Charles Samuelian said, “At Alan, we want to create a dramatic move to a more transparent, caring, and delightful health experience. Moving fast – it has been only 10 months since our last fundraising – with the support of top-tier investors is a confirmation of our vision to build intuitively obvious healthcare for the community.

“We are human-focused and care-driven. We aim at building a different kind of company based on transparency, trust, and care both for our users and our team.”

Copyright © 2019 FinTech Global

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