Alan online health insurance provider has secured €50m in its Series C round, to support the opening of two new European offices.
The new round was led by Singapore-based investor Temasek, with previous Alan backer Index Ventures also contributing.
With the close of the round, Alan has raised a total of €125m in equity. The InsurTech’s former funding round was a €40m Series B in February 2019 from investors including Index Ventures.
The company is looking to open offices in Spain and Belgium in the summer and will then expand into most European countries over the next five years.
France-based Alan is a fully-digital insurance solution for companies and independents. Consumers can access life insurance for themselves or families and select the number of years they wish to be covered for.
To help people during the coronavirus pandemic, Alan released its Coup de pouce, which offers free access to the latest available information on the crisis. Additionally, it offers a personalised symptom checker, free telemedicine services and meditation and yoga lessons.
Alan co-founder and CEO Jean-Charles Samuelian said, “Once the world begins to emerge from the COVID-19 health crisis, we believe that expectations and demands on the healthcare system will lead to a much faster transition to digital solutions. This is not just about convenience, but about delivering better care.”
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