Alan, a Paris-based health insurance company, has successfully raised €173M in a Series F funding round led by Belfius, a Belgian bank insurer. This new investment has elevated the company’s valuation to €4B, signaling a significant milestone in Alan’s growth trajectory. Alan plans to use the funds to fuel its advancement, upgrade its technological infrastructure, and broaden its international reach. The firm is not only focusing on financial expansion but also aiming for group profitability by 2026. By integrating innovative digital solutions, Alan aims to simplify healthcare services for its users.
How Has Alan Evolved Over the Years?
Alan has been making strategic moves since its inception in 2016, gaining recognition for its fully digital insurance product. Initially catering to small businesses and startups, the company later expanded its services to self-employed individuals and the hotel and restaurant sectors. Alan’s scope broadened further in 2020 with new offices in Spain and Belgium. In recent years, Alan has not only increased its membership to over 650,000 across various European countries but also set ambitious revenue goals, targeting €450M in annual recurring revenues by 2024. This journey reflects a consistent strategy towards scaling its operations and diversifying its product offerings.
What Are the Details of Alan’s New Strategic Partnership?
Alan’s strategic alliance with Belfius marks a significant development in the company’s expansion strategy. This partnership allows Alan to extend its services to Belfius’ corporate and institutional clients, potentially impacting millions of employees. Additionally, Alan aims to hire more than 25 strategic employees in Belgium to support this growth. The collaboration also includes a distribution agreement, making Alan the preferred partner for Belfius in insurance and healthcare services. This move not only fortifies Alan’s market presence but also deepens its engagement with technological innovations in the healthcare sector.
Alan’s venture into the health insurance industry is noted for its emphasis on prevention, insurance, and daily care, supported by AI-driven services. This partnership aims to integrate Alan’s technological expertise with Belfius’s extensive reach in the Belgian market. Jean-Charles Samuelian, Alan’s CEO, expressed optimism about the deal, stating,
“This privileged partnership with Belfius…opens the door to a new era for Alan in Belgium.”
Meanwhile, Marc Raisière, CEO of Belfius, highlighted the potential of this collaboration, remarking,
“Together with Jean-Charles Samuelian and the Alan team, we are ushering in a new era of employee well-being and business success.”
Belfius, with a history spanning 160 years, is a prominent player in the Belgian financial sector. It serves a substantial portion of the Belgian population and is recognized for its strong presence in corporate, business, and insurance markets. With Belfius’s investment, Alan not only gains financial backing but also a partner with extensive expertise in navigating the complex terrains of the European healthcare and financial sectors. Marc Raisière states,
“By combining their cutting-edge technology with our commitment to innovation, we are investing in the peace of mind…of everyone’s most precious asset: people.”
Alan’s partnership with Belfius represents a notable advancement in its mission to innovate the health insurance landscape. The collaboration brings together Alan’s digital acumen and Belfius’s market presence, offering a robust platform for future growth. As Alan aims to expand its reach and capabilities, this strategic move underscores the potential for transformative changes in the way healthcare services are delivered and accessed. For stakeholders, this partnership might be a compelling case of how digital innovation can meet traditional market strengths.
