Alloy, a US firm that has developed an operating system that helps FinTechs and banks make fraud, credit, and compliance decisions, has raised $52m.
The round was led by Lightspeed Venture Partners and Avenir Growth and saw participation from Bessemer Venture Partners, Felicis Ventures, Avid Ventures and Canapi Ventures. Following the raise, Alloy has raised $1.55bn since inception.
According to Finextra, over 300 companies use Alloy’s API-based platform to connect to more than 160 data sources, automate identity decisions during account orgination, and monitor them on an ongoing basis.
Alloy claims it will use the funding for a global expansion taking in 40 countries across North America, EMEA, Asia Pacific and Latin America.
Alloy CEO Tommy Nicholas said, “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.”
Other backers to the round include the ex-founder of Shutterstock and the founder of LoveFilm.
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