Alloy, which has built an identity operating system for banks and fintechs, announced Thursday that it has raised $100 million at a $1.35 billion valuation.
Lightspeed Venture Partners led the Series C round, which comes just over one year after New York-based Alloy raised $40 million in a Series B financing. Existing backers Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures all put money in the latest round, bringing Alloy’s total raised to over $150 million since its 2015 inception.
Alloy was founded primarily to fix a “broken” onboarding process that has historically involved manual review when people applied for bank accounts online. Put simply, the startup’s initial mission was to help banks and fintechs make better identity and risk decisions using its single API service and SaaS platform.Read more