Alan, a France-based independent digital health insurance platform, announced on Monday it secured €50 million through its Series C investment round, which was led by Temasek, a global investment company headquartered in
Singapore, with participation from Index Ventures. The funding brings Alan’s total amount raised since founding to €125 million.
Founded in 2016, Alan claims to be the first digital health insurance company in Europe. The company stated it revolutionizes health insurance by focusing on user experience with price-quality ratio health plan. Alan covers more than 76,000 members, representing €58m of revenue +165% in 2019).
“We are the first new independent insurance licensed in France since 1986 by the French Prudential Supervisory Authority (ACPR).”
Alan further noted that it aims to deliver better outcomes for all and contribute to better functioning healthcare systems by fundamentally rethinking how people access care, through a more human-centric, preventative, digital and transparent model. While sharing more details about the company, Jean-Charles Samuelian, Co-Founder and CEO of Alan, stated:
“Since its creation, Alan has been driven by its mission to make the healthcare system frictionless, fair and friendly for everyone. In the current crisis, this is more needed than ever. The global COVID-19 outbreak has reinforced people’s aspiration for more control over their health, and for a better healthcare system at every level.”
Alan is planning to use the funds to continue the growth and development of its insurance platform.