At what enterprise value was ALAN acquired in 2026?

During the acquisition of ALAN by INDEX VENTURES in 2026, the transaction's Enterprise Value is estimated to be in the range of 3b - 100b EUR.

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.

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 in 2026, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Financial Services sector (12.5x).

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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.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

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2026

2025

Other operations with ALAN

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
06/2026	PROSUS / DARA HOLDINGS	ALAN	FRANCE	Insurance

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: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: alan

Acquirer: index ventures