An Orrick Paris team advised Alan, Europe’s first digital health insurance company, in its €23 million series A financing – the most ever raised by a French Insurtech company. The round was led by Index Ventures, with participation by Open CNP, Partech, p3VC and Xavier Niel. This series A follows a $12 million seed round closed at the end of 2016; the company was founded earlier that year.
Focused on SMEs and independent workers, Alan invests in technology, care and user support to make health and well-being easy and accessible to all. Users can sign up and be approved for health insurance coverage in five minutes, and everything is 100 percent online. Alan is the first independent health insurance company to be licensed in France in 30 years.
Alan will use the funding to accelerate its growth to 100,000 users in the next three years and grow its team from today’s 20 employees to 80 by the end of this year.