DAKAR, Sept 2 – Alan’s acquisition of Tanel marks the French health insurer’s first move into Africa and gives the Senegalese healthtech startup a chance to expand its model across the continent.
The deal, which closed in June for an undisclosed amount, gives Tanel’s investors, including Ventures Platform and AAIC Investment, a full exit. It also stands out in Africa’s startup market, where most disclosed exits have come from Nigeria, South Africa, Egypt and Kenya.
Research by Ventures Platform and Stears found that the four markets accounted for 81% of 181 verified venture-backed exits between 2011 and 2026. About a third of those deals were in financial services. International buyers have also become less active, accounting for 33% of disclosed African exits in 2025, compared with 56% in 2020.
Tanel was founded in 2021 by Mouhamed Ndoye and Makhtar Diop to make health insurance easier for employers and their workers. The company started with pharmacy management software before becoming a licensed insurer and building a network of pharmacies, hospitals and clinics in Senegal and Côte d’Ivoire.
Unlike startups that simply manage insurance for another company, Tanel carries the insurance risk itself. It now covers about 70,000 people across more than 400 companies and connects customers to over 1,200 healthcare providers. About 30,000 of those covered are paying customers, Ndoye told TechCabal.
Tanel raised $2.45 million in funding before the acquisition, including a $350,000 pre-seed round and a $2.1 million seed round in 2024. Alan participated in the seed round and remained close to the company through regular calls and investor updates.
Tanel had planned to raise a Series A this year when Alan approached the founders about a possible sale. Ndoye said the founders decided that an acquisition would give the company a stronger opportunity to expand across Africa.
The deal will also change how Tanel manages risk. The startup previously carried its own insurance exposure, but will now have access to Alan’s global reinsurance relationships, allowing it to transfer part of that risk and free up capital for growth.
Alan raised €480 million in June and said it would use part of the funding for acquisitions, healthcare services, AI and expansion into new markets. The company has more than 1.2 million members across France, Spain, Belgium and Canada and reported more than $927 million in annual recurring revenue in the first quarter of 2026, up 53% year on year.
Ndoye and Diop will remain with Alan as general managers, while the Tanel team will move into equivalent roles.
Tanel plans to strengthen its operations in Senegal and Côte d’Ivoire before expanding into other African markets. Nigeria and Kenya are among its potential targets, alongside other Francophone markets. Alan and Tanel aim to reach one million customers across Africa by 2030.
For Ventures Platform, the acquisition also validates its strategy of backing businesses that can use one African market as a base for regional expansion. Tanel first proved its model in Senegal and then replicated it in Côte d’Ivoire, making it more attractive to a buyer looking for a multi-market business.
