French health insurance start-up Alan, backed by technology investor Prosus and footballer Kylian Mbappé, has expanded its presence into West Africa through the acquisition of Senegalese insurer Tanel. The announcement comes months after Alan’s latest fundraising round valued the company at €5.5 billion.
The terms of the deal were not disclosed. Alan, which was founded a decade ago and currently serves over one million members, has raised €580 million in 2026 alone, increasing its valuation by €1.5 billion since 2024. Tanel, valued at $7.5 million last year, provides insurance coverage to around 70,000 individuals across Senegal and Ivory Coast, with corporate clients including ride-hailing app Yango and fast-food chain KFC.
This acquisition marks Alan’s first foray beyond its existing markets of France, Spain, Belgium, and Canada. Alan’s business model involves selling insurance packages to corporate customers such as Volkswagen Spain and France’s finance ministry. Tanel operates on a similar model, which made the integration a strategic fit for Alan’s African expansion.
Alan Chief Executive Jean-Charles Samuelian-Verwe said that the long-standing relationship between the two companies—spanning approximately 18 months—helped affirm the compatibility of their business approaches. “We looked at different expansion opportunities and were fortunate to know the Tanel team well,” Samuelian-Verwe noted.
Tanel CEO Mouhammed Ndoye, based in Dakar, explained that the acquisition emerged during Tanel’s initial preparations for a Series A fundraising round. “Our original plan was to raise capital independently, but our discussions with Alan revealed a compelling opportunity to combine forces,” he said, emphasizing Alan’s broader ambitions beyond health insurance.
Investors in Tanel include Nigerian venture capital firm Ventures Platform and Japan-based healthcare investor AIJU, marking a notable exit in the emerging African health tech sector. Following the acquisition, Tanel will be rebranded as Alan, with Ndoye and co-founder Makhtar Diop continuing to lead operations and spearheading further growth across Africa. The company plans to extend its services into English-speaking countries in both West and East Africa, aligning with Alan’s wider strategy to diversify and expand its global footprint.
Despite generating €840 million in annual recurring revenue, Alan remains unprofitable as it invests heavily in growth. The company counts a range of prominent backers including Prosus, Index Ventures, and Mbappé, who serves both as investor and brand ambassador. The acquisition of Tanel represents a strategic step in Alan’s efforts to broaden its scale and reach new regional markets.