EUACCDaily Pulse #14 · 25 Jun 2026
Alan closes a €480 million Series G at a €5.5 billion valuation, the largest European healthtech raise of 2026, on the back of €800 million in annual recurring revenue growing 53 percent year-on-year and profitability in France.
📊HEALTHTECH
Alan raises €480M at €5.5B: AI-native insurance reaches €800M ARR
On 25 June, Paris-based Alan announced a €480 million Series G led by Prosus, valuing the company at €5.5 billion. Existing investors Teachers’ Venture Growth and Index Ventures participated alongside new backer Dara Holdings. Total raised to date exceeds €1.2 billion.
Alan has built an AI-native platform combining health insurance, prevention, and care in a single product. It serves 1.1 million individuals and 37,000 businesses across France, Spain, Belgium, and Canada. Annual recurring revenue surpassed €800 million in Q1 2026, up 53% year-on-year, and the company is profitable in France, its largest market. Funds will be used to expand into new countries, deepen AI health services, and pursue acquisitions.
📈WHY IT MATTERS
Prevention over claims: a model that traditional insurers cannot easily copy
Where traditional insurers pay claims after illness, Alan uses AI to drive prevention, lowering healthcare demand and strengthening unit economics. 850 employees serve 1.1 million customers: a ratio that signals genuine operating leverage at a scale most European tech companies never reach.
The Prosus lead is the tell. Prosus manages one of the world’s largest technology portfolios and rarely leads European insurance rounds at this scale. The conviction is in the AI-native architecture, not the insurance licence alone.
For a healthtech or insurtech founder, the benchmark is now visible. Alan reached Series G at €800M ARR in a regulated market, profitable, without decamping to the US. The path runs through France first, then cross-border through Spain and Belgium. Ten years from Paris to €5.5 billion.
Get it every Monday
Free · 5 min read · Unsubscribe anytime
← All 5 issuesEUACC · Get funded. Build Europe.