French health insurance company Alan says it has reached an agreement on a €480m funding round, valuing it at €5.5bn.
The new Series G funding round follows just months after Alan announced a €100m funding round at a €5bn valuation. Paris-based Alan has raised more than €1.2bn in total.
The latest funding round is being led by tech investing giant Prosus, a new investor, alongside existing shareholders Teachers’ Venture Growth (TVG) and Index Ventures, as well as new investor Dara Holdings. According to the FT, Prosus's investment includes fresh capital and buying up secondary shares.
Digital health app Alan, founded in 2016, provides health insurance and wellness insurance to businesses, public service organisations, and freelancers. It has more than 1.1 million customers, it says.
Employing 850 people, it operates across France, Spain, Belgium and Canada. This year it struck a deal with French football star Kylian Mbappé who has invested in Alan and is a brand ambassador.
