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Naspers continues to bet big on artificial intelligence (AI), announcing a more than R7bn investment by Prosus into European health technology provider Alan.
The French healthtech start-up raised €480m (R9bn) in a series G funding round, which now values the digital insurer and healthcare platform at €5.5bn.
The capital raise was led by Prosus, which has injected €400m into the company. Other investors include existing backers Teachers’ Venture Growth (TVG) and Index Ventures, with new investors Dara Holdings.
Alan’s business is an integrated healthcare platform that brings together insurance, care and prevention “in a single, personalised experience” using AI.
Naspers’ Amsterdam-listed unit said Alan has a “best-in-class” product, a platform built for scale and “a highly efficient cost of delivery”, all positioning it to uniquely “define the future of health tech”.
This adds to the growing number of internal and external AI bets that the JSE’s largest technology group has made recently.
This week, the group unveiled ToqanClaw, a platform that lets business owners develop their own software solutions without the need for complex technical teams or third-party developers. The platform is the group’s suite of large commerce models (LCMs), a set of agentic AI systems it hopes will replace traditional search and recommendation engines.
In addition, the group Toqan continues to push the use of its Toqan platform across businesses in its portfolio to improve and streamline operations, which aims to improve profitability.
In August 2025, Prosus led a $30m (R524m at the time) series A funding round in Fundamental Research Labs, a company specialising in the development of AI agent platforms.
The group sees massive opportunities for its business through its latest investment in Alan.
“Prosus will support Alan as it scales its consumer offering, help drive Alan’s expansion in large international markets with a strong Prosus presence, and accelerate Alan’s AI-led product development, including via access to Prosus’ large commerce model,” said the group.
It said Alan will help the group expand its “consumer ecosystem proposition into healthcare and bolster Prosus’ life assistant strategy”.
Overall, Prosus, which has been investing in AI since 2018, is leveraging its huge scale — made up of more than a billion customers and 5-million partners — to build its specialised AI, increasing its chances of capitalising on the technology trend.
“Healthcare presents one of the most significant global opportunities for AI-led transformation,” said Prosus group head of investments Fahd Beg. “Alan has built something unique: an integrated platform where insurance, prevention and care delivery reinforce each other, creating an exceptional healthcare experience for consumers and outstanding platform engagement. We’re excited to partner Alan to accelerate its international expansion and unlock value through our ecosystem.”
The platform reached more than €800m in annual recurring revenue by the first quarter of 2026, up 53% year on year. The company is profitable in France, its largest market. It serves more than 1.1-million individuals and is scaling “with limited headcount growth, demonstrating the inherent operating leverage of its AI-led model”.
