Alpaca, a provider of brokerage infrastructure, has announced a successful Series D funding round, raising $150 million alongside a $40 million credit facility. This latest investment propels the company’s valuation to $1.15 billion, marking a key milestone in its journey to democratize access to financial markets worldwide.
Headquartered in the United States, Alpaca operates as a self-clearing broker-dealer, specializing in API-driven solutions that enable seamless integration of trading services.
The platform supports a wide array of assets, including stocks, exchange-traded funds (ETFs), options, fixed-income securities, and cryptocurrencies.
By enabling fintech firms and institutions, Alpaca currently facilitates over nine million brokerage accounts across more than 40 countries. With this round, the company’s total funding now exceeds $320 million, underscoring strong investor confidence in its technology.
The funding was spearheaded by Drive Capital, with co-founder and partner Chris Olsen set to join Alpaca’s board of directors.
A diverse group of new investors participated, including Citadel Securities, Opera Tech Ventures (the venture arm of BNP Paribas), MUFG Innovation Partners, Flat Capital (backed by Klarna’s CEO Sebastian Siemiatkowski), DRW Venture Capital.
Others reportedly include cryptocurrency exchange Kraken, Altered Capital from Australasia, X&KSK founded by Japanese soccer star and investor Keisuke Honda, Bank Muscat from the Middle East, and Endeavor Catalyst. Returning backers such as Portage, Horizons Ventures, Social Leverage, Unbound, Diagram, and Derayah Financial also contributed, along with an angel investment from Revolut’s CTO, Vlad Yatsenko.
Alpaca’s core vision centers on making financial services universally accessible. As co-founder and CEO Yoshi Yokokawa explained, the goal is to create a universal framework for brokerage operations, allowing partners to extend investment opportunities to underserved populations.
This approach has fueled impressive growth, with the company reporting a more than twofold increase in annual revenue.
The past year has been transformative for Alpaca.
It expanded its offerings to include advanced features like multi-leg options trading, fully paid securities lending, fixed-income products, and round-the-clock U.S. stock trading five days a week.
Additionally, the firm launched a high-yield cash sweep program and introduced its Instant Tokenization Network in collaboration with partners such as xStocks, Dinari, Ondo Finance, and The Solana Foundation.
On the regulatory front, Alpaca gained memberships with the Options Clearing Corporation (OCC) and the Fixed Income Clearing Corporation (FICC), became a Nasdaq exchange member, and rolled out Shariah-compliant investment tools covering savings, options, and instant funding.
A key achievement was Alpaca’s dominance in asset tokenization, where it handled 94 percent of all tokenized U.S. equities and ETFs, highlighting its pivotal role in merging traditional finance with blockchain technology.
Alpaca now plans to allocate the new capital toward enhancing its international footprint.
This includes bolstering infrastructure for institutional clients, broadening asset classes, establishing operations in strategic markets, obtaining necessary regulatory approvals, advancing high-level trading tools, integrating fiat and blockchain systems, and fortifying cybersecurity measures.
These efforts aim to solidify Alpaca’s position as a frontrunner in evolving global capital markets.
Chris Olsen of Drive Capital has acknowledged Alpaca’s behind-the-scenes impact, comparing it to industry disruptors like Stripe and Plaid that have revolutionized payments and data handling.
He noted that Alpaca appears to be poised to redefine investment infrastructure for the coming decade. Meanwhile, Yokokawa emphasized that the funding will accelerate delivery of enhanced services to enterprise partners and global traders alike.