French insurtech Alan hits €5B valuation

A decade after becoming the first new independent health insurer in France in 30 years, Alan has closed a €100M round backed by Index Ventures, Shopify’s Tobi Lütke, and World Cup winner Antoine Griezmann, and it’s not slowing down.

Alan, the Paris-based health insurance startup, has raised €100 million ($116 million) in a new round that values the company at €5 billion ($5.83 billion), up from €4.5 billion when it last raised in September 2024.

The round was led by long-standing backer Index Ventures, joined by new institutional investors Greenoaks and Kaaf, a family office identified in the announcement only by initials, and SH. Business angels include Shopify founder Tobi Lütke and 2018 FIFA World Cup winner Antoine Griezmann.

Belgian bank and insurer Belfius, which led Alan’s previous Series F round and is also a distribution partner, also participated.

The company has been on a ...