Alloy (company)

Last updated
Alloy
Company typePrivate
IndustryFinancial technology; Identity verification; Fraud prevention; Compliance software
Founded2015
FoundersTommy Nicholas; Laura Spiekerman; Charles Hearn
HeadquartersNew York City, New York, U.S.
Area served
Worldwide
Key people
Tommy Nicholas (CEO); Laura Spiekerman (President); Charles Hearn (CTO)
ProductsIdentity decisioning platform; KYC/KYB verification; AML screening; Fraud detection and monitoring
Website www.alloy.com

Alloy is an American financial technology company that provides an identity decisioning and risk management platform used by banks, credit unions, and fintech companies to automate identity verification, fraud prevention, anti-money laundering screening, and credit underwriting. [1] [2] [3]

Contents

History

Alloy was founded in 2015 by Tommy Nicholas, Laura Spiekerman and Charles Hearn. [4] [5] In September 2019, Alloy announced a $12 million Series A round led by Bessemer Venture Partners. [6] In 2020, the company closed a $40 million Series B round led by Canapi Ventures. [7] [8] At the same year, Alloy co-founder Charles Hearn was named to Forbes 30 Under 30. [9] [10] [11]

In April 2021, the company announced an integration partnership with behavioral analytics firm Neuro-ID to make behavioral risk signals available within Alloy's identity decisioning workflows. [12] In September 2021, Alloy raised a $100 million Series C round that gave the company a post-money valuation of approximately $1.35 billion, making it a fintech "unicorn". [13] [14]

In September 2022, Alloy raised an additional $52 million at a $1.55 billion valuation. [15] [16]

In February 2023, the company announced the official launch of its Identity Decisioning Platform in the UK to support banks and fintechs there. [17] [18]

In September, Alloy published an Embedded Finance report and commentary on how sponsor-bank/fintech partnerships are evolving amid regulatory pressure. [19] [20]

In October 2024, Alloy announced strategic partnerships with commercial-lending platform Numerated and embedded-finance provider Sonovate to deliver identity-risk and fraud-prevention capabilities to commercial lenders and embedded finance customers. [21]

In January 2025, the company announced a partnership with the digital banking firm Q2 Holdings to deliver advanced fraud monitoring services for banks and credit unions. [22] [23]

On 18 February 2025, the company was named to Forbes' Fintech 50 list for 2025. [24] In July, Alloy was recognized on CNBC's World's Top Fintech Companies 2025 list. [25] [26]

Products and services

Alloy's product is commonly described as an "identity decisioning" or "identity operating" platform. [27] It offers a centralized decision engine and workflow builder that orchestrates data from credit bureaus, identity providers, document verification services, and alternative data sources to automate KYC (Know Your Customer), KYB (Know Your Business), AML screening, and fraud detection rules. Customers can integrate via API or use Alloy's user interface for rule configuration, monitoring, and case management. [28]

Alloy reports hundreds of customers among banks, credit unions, and fintechs globally, and states that its platform is used to manage onboarding, ongoing monitoring, and credit decisions at scale. The company states it serves organizations across multiple markets, enabling localized verification flows and a wide set of third-party data integrations. [29] [30] [31]

References

  1. ↑ Penn, David (2024-10-08). "Alloy Helps Commercial Lenders, Embedded Finance Providers Fight Fraud". Finovate. Retrieved 2025-10-22.
  2. ↑ Poornima, Apte (30 September 2021). "Identity decision platform Alloy adds $100M to its funding pool". VentureBeat .
  3. ↑ Mason, Emiliy (24 October 2024). "Identity Startup Socure to Acquire Effectiv for $136 Million". Bloomberg.
  4. ↑ Penn, David (2024-10-08). "Alloy Helps Commercial Lenders, Embedded Finance Providers Fight Fraud". Finovate. Retrieved 2025-10-22.
  5. ↑ "Alloy". Lightspeed Venture Partners. Retrieved 2025-10-22.
  6. ↑ Fuscaldo, Donna. "Alloy Raises $12 Million To Automate Identification Compliance For Banks". Forbes. Retrieved 2025-10-22.
  7. ↑ Munk, Cheryl Winokur. "Alloy Secures $40 Million In Series B Funding". Forbes. Retrieved 2025-10-22.
  8. ↑ DeFrancesco, Dan. "Here's the 12-page pitch deck that Alloy, a fintech that helps vet customer identities and prevent fraud, used to raise its $40 million Series B in less than a month". Business Insider. Retrieved 2025-10-22.
  9. ↑ "Alloy's global identity decisioning platform, built on AWS - AWS Startups". aws.amazon.com. Retrieved 2025-10-22.
  10. ↑ Cofounder, Wise Systems. "Forbes 30 Under 30 2021: Enterprise Technology". Forbes. Retrieved 2025-10-22.
  11. ↑ Field, Shivaune (2025-09-23). "Alloy Robotics emerges from stealth with $4.5m pre-seed from Blackbird, Airtree and Skip Capital". Forbes Australia. Retrieved 2025-10-22.
  12. ↑ "Alloy And Neuro-ID Partner To Unlock Access To Behavioral Data". NeuroID. Retrieved 2025-10-22.
  13. ↑ Azevedo, Mary Ann (2021-09-30). "Alloy raises $100M at a $1.35B valuation to help banks and fintechs fight fraud with its API-based platform". TechCrunch. Retrieved 2025-10-22.
  14. ↑ Xing, Jeff Elder, Margaux MacColl, April Joyner, Jessica. "76 of the most promising enterprise startups of 2021, according to top VCs". Business Insider. Retrieved 2025-10-22.{{cite web}}: CS1 maint: multiple names: authors list (link)
  15. ↑ Azevedo, Mary Ann (2022-09-01). "Alloy leans on fraud prevention to land new $1.55B valuation". TechCrunch. Retrieved 2025-10-22.
  16. ↑ "ID verification platform Alloy raises $52m in Series C extension round". FinTech Futures. Retrieved 2025-10-22.
  17. ↑ Law, Ross Henry (2023-09-02). "Decisioning platform Alloy launches in UK". FStech. Retrieved 2025-10-22.
  18. ↑ "Fintech Alloy launches in the UK". thepaypers.com. Retrieved 2025-10-22.
  19. ↑ "Embedded Finance Under Pressure: Compliance Issues Are Driving Sponsor Banks to Reset, Even Exit". The Financial Brand. 2024-09-11. Retrieved 2025-10-22.
  20. ↑ Brightmore, Dan (2024-08-21). "Alloy: State of Embedded Finance Report 2024". FinTech Strategy. Retrieved 2025-10-22.
  21. ↑ Penn, David (2024-10-08). "Alloy Helps Commercial Lenders, Embedded Finance Providers Fight Fraud". Finovate. Retrieved 2025-10-22.
  22. ↑ Bhowmik, Satarupa (2025-01-23). "Q2, Alloy collaborate to offer new fraud monitoring tool for banks". Retail Banker International. Retrieved 2025-10-22.
  23. ↑ "Q2 & Alloy to deliver Fraud Monitoring Solution for Banks & Credit Unions". IBS Intelligence. Retrieved 2025-10-22.
  24. ↑ NOVACK", "JEFF KAUFLIN"," JANET. "Forbes 2025 Fintech 50 - The Top Fintech Companies". Forbes. Retrieved 2025-10-22.{{cite web}}: CS1 maint: multiple names: authors list (link)
  25. ↑ "CNBC Releases 2025 Ranking of the World's Top Fintech Companies - FinTech Weekly". FinTech Magazine Article. 2025-07-17. Retrieved 2025-10-22.
  26. ↑ "CNBC's 2025 Top Fintech Companies: Shaping the Future of Financial Services". FinTechtris. Retrieved 2025-10-22.
  27. ↑ Mikula, Jason (2021-10-03). "ID Verification, Fraud Prevention & More with Alloy's Jason Ioannides". Fintech Business Weekly. Retrieved 2025-10-22.
  28. ↑ dwillis (2025-09-23). "Alloy introduces AI-driven compliance tool for KYC". FinTech Global. Retrieved 2025-10-22.
  29. ↑ Kauflin, Jeff. "The 50 Hottest Fintech Startups". Forbes. Retrieved 2025-10-22.
  30. ↑ Penn, David (2024-10-08). "Alloy Helps Commercial Lenders, Embedded Finance Providers Fight Fraud". Finovate. Retrieved 2025-10-22.
  31. ↑ "Report: Alloy Business Breakdown & Founding Story | Contrary Research". research.contrary.com. Retrieved 2025-10-22.
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