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Alloy raises $52m for global expansion

Alloy raises $52m for global expansion

Alloy, the New York-based company behind an operating system that helps banks and fintechs make better identity and risk decisions, has raised $52 million at a $1.55 billion valuation.

Lightspeed Venture Partners and Avenir Growth led the funding with participation from Canapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures.

Over 300 companies use Alloy's API-based platform to connect to more than 160 data sources, automate identity decisions during account origination, and monitor them on an ongoing basis.

The firm will use the funding for a global expansion taking in 40 countries across North America, Emea, Latin America, and Asia Pacific.

Tommy Nicholas, CEO, Alloy, says: "We feel incredibly lucky to have partners that not only understand the impact of our investments into our platform and in expanding globally but also proactively come to the table to support them.

"With this newest investment we'll be able to accelerate our growth and better address the global fraud challenges that companies are facing."

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