At what enterprise value was ALAN acquired in 2026?

During the acquisition of ALAN by INDEX VENTURES in 2026, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Financial Services industry currently tracks an average EBITDA multiple of 12.6x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of ALAN when it was acquired by INDEX VENTURES?

The exact EV/EBITDA multiple for ALAN is available on mynth capital. For comparison, the Financial Services sector currently shows an average EBITDA multiple of 12.6x. Join our community for free to access full valuation data and industry trends.

When was ALAN acquired by INDEX VENTURES?

ALAN was acquired by INDEX VENTURES in 2026.

What was the revenue of ALAN at the time of the deal?

The revenue of ALAN at the time of the deal is estimated to be in the range of 750M - 1.3b EUR. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the ALAN acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ALAN deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.zonebourse.com/actualite-bourse/alan-enregistre-un-arr-record-de-785-m-en-2025-ce7e5fdcdc81f020

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Home Database Financial ServicesALAN

03/2026

ALAN acquired by INDEX VENTURES

FRANCE Insurance EV 3b - 100b EUR

Context

Alan has successfully closed a €100 million Series G funding round, propelling its post-money valuation to €5 billion. The round was led by existing investor Index Ventures, with participation from Belfius Bank and several new high-profile entrants, including GreenOaks, Kaaf Investments, and prominent individual investors such as Shopify founder Tobi Lükte and footballer Antoine Griezmann. The strategic rationale for the round is to fuel Alan’s continued expansion and solidify its market leadership as it reaches a critical financial milestone: achieving profitability in its core French market in 2025. With an Annual Recurring Revenue (ARR) reaching €785 million and a target to exceed €1 billion in 2026, the company is using the fresh capital to scale its innovative health services and capitalize on major new contracts, such as the coverage for 135,000 French civil servants.

ALAN, which reported an EBITDA margin of LOGIN in 2026, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Financial Services sector (12.6x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Founded in 2016, Alan is a leading European health-tech "neobank" for insurance, providing digital-first health coverage for employees and freelancers. The company's business model transitions from a traditional insurer to a comprehensive "health partner," integrating insurance with primary care services, mental health support, and virtual clinics. Its value proposition is centered on extreme transparency, a seamless user interface, and rapid claims reimbursement. Strategically, Alan targets SMEs, large corporations, and public sector institutions (such as the French Ministry of Economy). By combining insurance regulated capital with a high-growth SaaS-like delivery model, the company aims to own the entire health journey of its users across France, Belgium, and Spain.

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Other operations with ALAN

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
06/2026	PROSUS / DARA HOLDINGS	ALAN	FRANCE	Insurance	Alan has completed a new €480 million funding round with Dutch group Prosus, which is joining the company's capital structure, and existing investors Teachers' Venture Growth and Index Ventures. UK-based family office Dara Holdings is also participating in the round as a new shareholder. A portion of the funds raised came from secondary transactions, allowing certain existing shareholders to sell a fraction of their shares. This transaction represents the largest funding round in Alan's history, coming just weeks after a previous €100 million financing

REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 750M - 1.3b EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ALAN by INDEX VENTURES are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: alan

Acquirer: index ventures