Alloy Raises $3.8M for Data-Driven Identity Verification Platform

Brooklyn-based Alloy, a platform to help financial services companies make data-driven customer decisions, has recently raised $3.8M in a Seed round led by Eniac Ventures . “What attracted us to Alloy is the passion of its founders, paired with an enormous market potential to improve operational efficiencies across the identity verification lifecycle” – Hadley Harris, Founding General Partner at ENIAC Ventures. This is Alloy:

The startup was established by Tommy Nicholas, Charles Hearn and Laura Spiekerman in 2015. Look.

One of the things Alloy solves for is applying for a credit card to later receive a rejection letter in the mail. Alloy’s API enables financial institutions like credit cards the ability to generate real-time decisions, so that banks can provide approvals in seconds, increasing customer satisfaction and reducing churn and brand degradation. And that’s just one of the company’s first use cases and initial customer verticals through their robust API.

Bottom Line: Alloy in 5 words: “due diligence for new customers” .