Paris-based digital health insurance platform Alan has just secured €40 million in a financing round led by eminent investors including Index Ventures and partners of DST Global. The series B has been conducted just after 10 months of series A round in which the startup raised $28 million. Now after the fresh capital inflow, Alan has managed to bring its total funding to €75 million.
Tom Stafford, Managing Partner of DST Global stated, “We are excited to continue our partnership with Jean-Charles, Charles and the rest of the Alan team as they redesign health insurance and healthcare more generally. Legacy solutions lead many employers to provide limited and inefficient health insurance for their employees. Through Alan, companies can sign-up quickly and easily and offer best-in-class healthcare for their employees at a competitive price and in a digital format.”
Health insurance – 100% online with 0% paper use
Founded in 2016, Alan offers hassle-free digital health insurance solutions to users. The year 2018 remained to be very significant for the startup as it achieved more than 500% revenue growth from €3.5 million to €22 million and user base of 27,000 from less than 5,000. With a team of 64 members, Alan caters 2,000+ companies including My Little Paris, Le Slip Français, Ledger and Converteo.
Focus on SMEs and freelancers
Alan is going to utilise the latest fund in further developing its platform to offer enhanced user experience. The startup will also prioritise the SMEs sector and freelancer customers. Further, Alan will absorb more than 100 people in its team to escalate its growth in France by the end of 2019.