Alpaca, a California-based Fintech startup building AI and database technology for financial trading, on Tuesday the closing of its venture round, which has secured $1.75 million. Participants of the latest round include D4V, a joint-venture fund by IDEO and Genuine Startups, Monex Ventures of Monex Group, the parent company of TradeStation, MUCAP of Mitsubishi UFJ Financial Group, Eric Di Benedetto, along with existing and angel investors.
The company reported that in March 2016, launched its AlpacaAlgo, a web SaaS that enables traders to automate trade ideas with deep-learning, now having more than 25,000 user-built trading algorithms. Since then Alpaca has been featured in CBInsights’ “41 Startups Bringing AI To Fintech,” Forbes Japan, Bloomberg, and Nikkei Newspaper. The company also noted that it executed $100 million in real-money trading volume in less than two months of live production in last December.
Yoshi Yokokawa, Alpaca’s co-founder and CEO, stated:
“We see an opportunity to offer a true value to casual stock traders like ourselves by providing trading contents in an easily digestible way, backed by real technology and science. We are excited to have received a huge amount of support from successful traders and technologists in the industry throughout this financing round.”
Alpaca added that the funds from the venture round would be used to build a trade idea discovery app for casual stock traders.