'Alloy 'Alloy 'Alloy: fraud fighting US unicorn launches in the UK

The SaaS platform counts Brex, Marqeta and more than 350 other fintechs among its users.

Fintech unicorn Alloy is making its way across the pond to launch in the UK.

Founded in 2015 by Charles Hearn (CTO), Tommy Nicholas (CEO) and Laura Spiekerman (president), the firm supports more than 350 banks and fintech startups in North America, including Brex, Marqeta, Gemini and Ramp, to prevent fraud and financial crime.

Backed by leading investors from Lightspeed Venture Partners, Bessemer Venture Partners, and Canapi Ventures, Alloy's “Identity Decision Platform” helps reduce the friction between fintechs and their customers.

It connects companies to more than 170 data sources and enables them to automate customer approval and account opening, with real-time transaction monitoring.

“For financial institutions to remain competitive in today’s market, cross-border functionality is no longer a major advantage – it’s a must,” Alloy head of global Edwina Johnson.

“Fintech startups are now building with a global mindset from day one, and looking for technology partners who can scale with them, adapting to their changing business needs, appetite for risk, and compliance requirements.”

The company has so far raised more than $210m, reached a valuation of $1.55bn and last year said it would be expanding into 40 new countries, with its new London office now marking its first local site outside of the US.

Formerly the company’s chief operating officer, Johnson worked alongside the company’s founders to grow the business from Series C to unicorn status.

Relocating to the UK and shifting to a new role to head up global expansion, she is joined by former vice president at Onfido, James Baston-Pitt, who will spearhead commercial initiatives as the EMEA director of growth. 

“The UK is one of the world’s most powerful fintech hubs, and we can’t wait to help innovative local firms unlock their potential abroad,” Johnson continues.

“For too long, international expansion has involved trade-offs with risk management, but that doesn’t have to be the case. 

“Alloy provides dynamic support for companies operating across multiple regulatory environments, so they can focus on growing their business without worrying about the threat of fraud.”