Index in €40m series-B for Alan

The round will enable the company to invest in product development and marketing activity targeted at French SMEs and freelancers. The business also intends to increase its headcount to 175 by the end of 2019.

According to a statement, Alan increased its client base from 5,000 to 27,000 and its revenues from around €3.5m to €22m during the course of 2018, in addition to increasing its headcount from 14 to 64. The statement also revealed that the company is now close to reaching break-even.

Previous funding
Alan first received venture backing in 2016, when OpenCNP, Partech Ventures and Portag3 Ventures led a €12m seed round for the company.

Index then led a €23m series-A for the business in April 2018, in a round that also saw participation from OpenCNP, Partech, Portag3 and French businessman Xavier Niel.

Company
Founded in 2016 and based in Paris, Alan is a digital health insurance company that covers more than 7,000 people in France and provides its own health insurance plans to companies and individuals.

People
Index Ventures – Jan Hammer (partner).
Alan – Jean-Charles Samuelian (co-founder, CEO).

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