"Alan says it reached €785 million in annual recurring revenue in 2025, up 53% year-on-year, and is now targeting €1 billion in ARR in 2026. It also says it has crossed one million members: employees, freelancers, and retirees covered through its health insurance and wellness platform in France, Belgium, Spain, and Canada."
"France remains Alan's largest market, and it is where the company has achieved a notable recent milestone. Alan says it has reached operational profitability in France, the country where it made history in 2016 as the first new independent insurance company to receive a licence since the 1980s."
"Rather than targeting full profitability in 2026, Alan says it is choosing to invest the headroom into international expansion and product development, including AI."
Alan, a Paris-based health insurance startup, closed a €100 million funding round led by Index Ventures, valuing the company at €5 billion. The round included new institutional investors Greenoaks and Kaaf, plus notable angels like Shopify founder Tobi Lütke and World Cup winner Antoine Griezmann. Alan reached €785 million in annual recurring revenue in 2025, a 53% year-on-year increase, and targets €1 billion ARR in 2026. The company now covers one million members across France, Belgium, Spain, and Canada. Notably, Alan achieved operational profitability in France, where it made history in 2016 as the first new independent insurance company licensed since the 1980s. Though posting net losses of €61 million in 2023 and €56 million in 2024, the company is approaching operating break-even and plans to reinvest available capital into international expansion and AI product development rather than pursuing immediate full profitability.
Read at TNW | Startups-Technology
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