Alloy Raised $40M To Digitally Onboard Banking Customers

Alloy, an identity operating system for the financial services industry, raised $40 million in Series B funding. Canapi Ventures led the round with participation from Avid Ventures and Felicis Ventures, as well as existing investors Bessemer VenturesPrimary Venture Partners and Eniac Ventures. The new investment gives Alloy nearly $56 million in funding since the company was founded in 2015, according to Crunchbase data.

The New York-based startup helps banks and fintechs more quickly and safely onboard customers through a single application programming interface service and SaaS platform. It can also automate certain decisions that mitigate fraud and reduce burden on back office operations.

Read more: Crunchbase News