Alpaca raises $150 million Series D at $1.15 billion valuation
Brokerage infrastructure provider secures new funding and credit line to expand global market access and asset offerings.
Alpaca has raised $150 million in a Series D funding round, valuing the company at $1.15 billion, as it looks to scale its global brokerage infrastructure business.
The round was led by Drive Capital. Its co-founder and partner, Chris Olsen, will join Alpaca’s board, the company said. Alpaca also secured a $40 million line of credit alongside the equity raise.
Alpaca provides application programming interface-based brokerage infrastructure to financial institutions and fintech platforms. The company said it partners with more than 300 organisations across over 40 countries, supporting millions of brokerage accounts. Clients include Kraken, SBI Securities and Dime!.
The company said it more than doubled revenue year on year. “Our mission is to open financial services to everyone on the planet,” said Yoshi Yokokawa, co-founder and chief executive officer of Alpaca.
Participants in the Series D included Citadel Securities, Opera Tech Ventures, MUFG Innovation Partners, Flat Capital, DRW Venture Capital, Kraken, Altered Capital, X&KSK, Bank Muscat and Endeavor Catalyst, the company said. Returning investors included Portage, Horizons Ventures, Social Leverage, Unbound, Diagram and Derayah Financial.
“Some of the most transformative companies in technology are the ones behind the scenes powering entire industries,” Olsen said.
Alpaca said it plans to use the proceeds to strengthen global investment infrastructure, expand asset offerings, establish local market presence, secure additional regulatory licences and enhance cybersecurity and platform resilience.
The company operates through AlpacaDB, Inc., the parent company of Alpaca Securities LLC. Securities brokerage services are provided by Alpaca Securities LLC, a wholly owned subsidiary of AlpacaDB, Inc., and a member of FINRA and SIPC. The company noted it does not represent that its products or services are Shariah-compliant.
The Recap
- Alpaca raised $150 million in Series D funding.
- The round values the company at $1.15 billion.
- Funds to expand global infrastructure and pursue licenses.
