French insurer Alan secures €183m for European mission

Alan, a French health insurance provider that describes itself as “the all-in-one wellness provider”, has raised €183m in Series E funding.

Teacher’s Venture Growth (TVG) – arm of the Ontario Teacher’s Pension Plan Board – led the round. Also participating was Temasek, Index, Coatue, Ribbit Capital, Exor, Dragoneer and Lakestar.

The round brings the company to a total valuation of €2.7bn.

Alan now has over 300,000 members, with 15,000 corporate clients primarily in the tech, hospitality and retail sectors.

Since 2016, the company’s mission has been to make a personalised, preventive and global health experience accessible to everyone on a daily basis. “We strive to be the most focused healthcare company on the needs of its members. This fundraising brings us a little closer to our mission: to build the health partner of all Europeans,” Alan said.

The company said that 60% of French people decide not to go to the doctor because it was not available or too expensive. Moreover, 82% people would like a better organised healthcare system, 1 in 6 people suffer from a chronic illness, yet EU countries spend only 3% of their health budget on prevention.

“Europeans need a trusted partner to help them take control of their health and well-being. Alan is building a unique solution to manage the entire care pathway, from health services to reimbursements via health insurance products, from prevention to treatment,” the company said.

Jean-Charles Samuelian-Werve, co-founder and CEO of Alan, added, “We are very happy to work with TVG and to benefit from the trust of all our investors. They will help us to become a partner for all Europeans on all subjects including mental wellness. We will use the funds to move closer to our mission: to build the best health experience our members could ever dream of.”

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