Alan, a French start-up that is developing dematerialized complementary health insurance, has doubled its valuation during a funding round of 183 million euros. The company is targeting three million customers by 2025.
After a month of January marked by mega-fundraising (486 million euros for Qonto, 450 million euros with Back Market…), the euphoria had fallen in French Tech. But the spring could be bright with new major announcements. This hypothesis is reinforced by the round table of 183 million euros from Alan, a French start-up which is developing dematerialized complementary health insurance.
This operation, led by the Canadian fund Teacher’s Venture Growth itself owned by the Ontario teachers’ pension fund, allows the company to double its valuation, to 2.7 billion euros. The company had already raised 185 million euros a year ago, which had allowed the young shoot to join the circle of unicorns, these start-ups valued at more than a billion dollars.
Three million customers by 2025
Founded in February 2016 by Jean-Charles Samuelian-Werve and Charles Gorintin, the Parisian society claims more than 300,000 members, including more than 12,000 in Belgium and Spain, for 15,000 corporate clients. The year of its creation, Alan received approval from the ACPR (Prudential Control and Resolution Authority), which had not happened since 1986 for an independent insurer.
After dusting off complementary health insurance, the start-up has enriched its platform with several services (messaging, teleconsultation, mental health monitoring, optical care, etc.) to attract companies. And to diversify his income, Alan now offers his technology and features to mutuals. By continuing to expand its scope of action, the company is gradually transforming its platform into a health super-app, like Lydia in the banking sector.
Last year, Alan recorded a growth of 86% for a turnover of 200 million euros. The unicorn is now setting itself the goal of reaching three million customers by 2025. Until then, it is also aiming for profitability. To meet its challenges, the start-up plans to recruit 1,000 additional employees.