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Image Credits:David Atlan / Alan
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Alan , the French indemnity unicorn , just signed a multi - faceted spate withBelfius , one the large banks in Belgium , that include a distribution partnership along with a significant fiscal investing in the inauguration .
Belfius is conduct Alan ’s Series F financial support round of € 173 million ( around $ 193 million at current substitution rates ) . Some of Alan ’s survive investor are participate once again , namely Ontario Teachers ’ Pension Plan ( via Teachers ’ Venture Growth ) , Temasek , Coatue , and Lakestar .
If you are n’t conversant with Alan , the fellowship earlier started with a health indemnity mathematical product that complement the national health care system in France . French companies must provide health policy to all their employees when they join .
Alan has optimized its core product as much as possible so that its exploiter experience is much skillful than a legacy insurance supplier ’s . For illustration , Alan has automate many parts of the claim management organization . In some cases , you get a reimbursement on your bank account just a moment after go away the doctor ’s office .
Over metre , the company tot other health - tie in service , such as the ability to chat with doctors , order prescription glasses , and utilize preventive care message on genial health , back infliction and more via its mobile app . More recently , the party has turn to AI to increase its productivity .
Earlier this year , Alan shared some metrics about the caller ’s carrying into action . The society had say that over 500,000 people were covered by Alan ’s insurance mathematical product , and it could reach lucrativeness without get up another financial support round .
But Alan allege the partnership with Belfius was a good opportunity to grow its customer base in Belgium — the bank will offer the startup ’s health insurance products to its own corporate and institutional client , which symbolise billion of employee .
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“ This inner partnership with Belfius , whose translation over the past decade has been truly inspiring , opens the door to a Modern era for Alan in Belgium . Belfius ’ investing will permit us to speed up our development and dilate our capacity to offer cutting - boundary , approachable health products and service to a spacious audience , ” Alan ’s co - founder and CEO , Jean - Charles Samuelian - Werve , said in a statement .
Since February , Alan has added another 150,000 customers , let in at the Prime Minister ’s office in France . It expect its annual recurring revenue to pass € 450 million ( around $ 500 million ) this year .
However , Alan is n’t a distinctive software - as - a - service company , and most of its revenue is arrange apart to fulfill insurance claims . Still , one affair is for sure — the company ’s growth does n’t seem to be slowing down .
