Fintech firm reaches $1.3B valuation fighting rise of digital fraud

The Covid-19 pandemic helped open the floodgates for online fraudsters, with Americans losing $3.3 billion to scams last year, an 83% jump from 2019, according to Federal Trade Commission data.

That’s an opportunity, however, for fintech startup Alloy, which helps financial firms identify their customers and monitor potential fraud risks. Alloy announced Thursday that it had raised a $100 million Series C venture-capital round, giving the young company a valuation a little less than $1.4 billion.

“We’ve seen more fraud, more types of fraud, faster fraud,” said Laura Spiekerman, co-founder and chief revenue officer of Alloy, which is headquartered in Greenwich Village. “It used to be that if

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