Alloy Raises $100M Series C at $1.35B Valuation for Identity Platform

Alloy, which provides an API-based identity operating system for banks and fintechs, secured $100 million in Series C funding at a $1.35 billion valuation, led by Lightspeed Venture Partners. The platform aggregates data from 120 identity providers, enabling financial institutions to automate fraud prevention during customer onboarding and ongoing transactions. Alloy is expanding its capabilities into transactional monitoring, broadening its scope beyond onboarding identity verification.

The unicorn valuation underscores the growing demand for identity and compliance infrastructure that supports BaaS and embedded finance deployments. By offering a unified API layer for identity verification, Alloy reduces integration complexity for banks and fintechs building digital financial products. The round signals strong investor confidence in compliance and KYC/AML infrastructure as a foundational layer for the broader BaaS ecosystem.

Financial institutions increasingly rely on third-party platforms like Alloy to meet regulatory requirements while maintaining a seamless digital customer experience.