# 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.
EUACC page: https://www.euacc.ai/briefing/pulse-14
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## Public content

**issue:** 14
**type:** pulse
**date range:** 25 Jun 2026
**tagline:** 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.
**published at:** 2026-06-26
**sections:** 
  -     **body:** 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.
    **emoji:** 📊
    **label:** HEALTHTECH
    **heading:** Alan raises €480M at €5.5B: AI-native insurance reaches €800M ARR
  -     **body:** 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**.
    **emoji:** 📈
    **label:** WHY IT MATTERS
    **heading:** Prevention over claims: a model that traditional insurers cannot easily copy

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