News Summary

French health insurance startup Alan has achieved a valuation of €5 billion, approximately $5.83 billion, following a €100 million funding round led by Index Ventures. New investors, including Greenoaks, Kaaf, and SH, participated alongside business angels such as Shopify founder Tobi Lütke. Since its inception in 2016, Alan has grown to serve one million users with a team of 740 employees. The company is leveraging AI and technology to reshape Europe’s €522 billion health insurance market. Alan has expanded internationally, including entering the Canadian market, where it is now licensed across all provinces. The company aims to reach $1.16 billion in annual recurring revenue by 2026 and is prioritizing international expansion and product improvements over immediate profitability.