Alan SA co-founders Jean-Charles Samuelian, left, and Charles Gorintin. The French virtual health care provider and insurer expanded into Canada in 2024.Supplied/Supplied
Alan SA, a French virtual health provider and insurer that expanded into Canada, announced a new funding round worth $158-million on Wednesday that includes personal investments from Shopify SHOP-T chief executive officer Tobi Lütke and Wealthsimple CEO Mike Katchen.
Alan’s founders, who also helped launch European AI leader Mistral, said the new investment round valued the company at €5-billion (about $8-billion). It reached €785-million in annual recurring revenue in 2025 and is now profitable in its home market of France, the company said.
The latest round was led by Index Ventures, with participation from Belgian state-owned bank Belfius, U.S. tech investors Greenoaks Capital and others. Ontario Teachers’ Pension Plan holds a minority stake in Alan after leading a Series E round in 2022.
Shopify CEO’s share sell plan could net him $350-million
Wealthsimple joins Swift global financial transfer system
Alan CEO and co-founder Jean-Charles Samuelian-Werve said he welcomed the personal investments of Mr. Lütke and Mr. Katchen, and he hoped the company would gain from their experiences in technology, brand and user experience.
“Tobi and Mike are among the greatest entrepreneurs in the world and people I love learning from,” Mr. Samuelian-Werve said in an e-mail.
“They share our conviction of a profound transformation of the healthcare system to make prevention the new norm by using AI and technology everywhere.”
Alan, founded in 2016, also operates in Spain and Belgium.
Alan is what’s known in the industry as a “payvider” because it offers group benefits plans to employers and also provides some health services to employees through its app. The company recently launched “Alan Clinic,” an in-app service that connects employees looking for mental-health support with licensed Canadian health professionals.
Alan received a federal licence to provide health insurance in Canada in late 2024, and since then has been working through approvals with provincial regulators and signing up employers.
Its clients currently number at 65 employers representing 1,600 workers.
Mark Goad, Alan Canada’s general manager, said the company started out focusing on small employers because they had the clearest need for an innovative, comprehensive suite of services.
Half of Canadians in the private sector work for companies of under 100 people, he noted. “And those are the companies that have the least staffing on human resources.”
“We see a big imbalance, like smaller customers in Canada get the least support, love and attention, whereas we come in and that’s what we love to do, right?”
He said he is now talking to larger enterprises with hundreds of employees to learn what features Alan can add that would be attractive to them as well.
Mr. Goad said Alan has plans to launch an in-app chat with family physicians as its next major service.