mynth
06/2026MinorityGrowth

Prosus / Dara Holdings invest in Alan

FRANCE Insurance EV €1–10bn

Context

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. The primary objective of this funding round is to accelerate the company's international growth strategy and bolster its technological investments. The raised capital will be used to support the geographic expansion of the platform through the opening of new markets beyond its current footprint. Alan also plans to continue developing its digital health and prevention solutions, with a particular focus on integrating artificial intelligence into its offerings. The company aims to enhance the capabilities of its AI-powered medical assistant, enrich its personalized support services, and improve the automation of operational processes. Furthermore, the transaction provides Alan with strategic support from Prosus, a renowned international investor with expertise in large-scale technology platforms.

In the past, Alan was acquired by Index Ventures in 2026 as part of its expansion strategy.

Alan, which reported an EBITDA margin of [members only] in 2026, is valued in this transaction at an EV/EBITDA multiple of [members only].

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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

€1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

4x–10x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2026
€450–900M
[members only]
[members only]
2025
€450–900M
[members only]
[members only]

Other operations with Alan

Other operations with Alan
DateAcquirerTargetCountrySector
03/2026INDEX VENTURESALANFRANCEInsurance

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REFERENCES

Valuation range: EV €1–10bn

Revenue range: €450–900M

EV/Revenue range: 4x - 10x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Alan by Prosus / Dara Holdings 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.

Press release: view release

Target: alan

FAQ

What transaction does this page cover?

This page covers the acquisition of a minority stake in Alan, a French company specialised in Insurance, by Prosus and Dara Holdings in 2026, structured as a growth equity investment to support its development. This followed an earlier holding cycle initiated in March 2026, when the company was acquired by Index Ventures.

How was the acquisition of Alan by Prosus valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €1–10bn band and its EV/revenue multiple within the 4x - 10x range. Exact figures are available to members.

What was Alan’s revenue at the time of the deal?

At the time of the transaction, Alan’s annual revenue was estimated within the €450–900M range (FY 2026). Detailed financial figures are available to members.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

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