Alpaca, a provider of brokerage infrastructure, has announced a substantial $135 million equity raise. The round was spearheaded by Peak XV, with significant backing from Elefund and participation from new and existing investors including Opera Tech Ventures—the venture arm of BNP Paribas Group—and Unbound.
When combined with debt financing, primarily from Payward (parent of the global digital asset platform Kraken) and BMO, the total capital infusion reaches $435 million.
This latest investment arrives on the heels of the company’s $150 million Series D round in January 2026, which valued the firm at $1.15 billion.
It underscores growing investor confidence in Alpaca’s ability to capitalize on the convergence of tokenization and artificial intelligence in financial markets.
The company has reported robust expansion amid these industry transformations, including strategic acquisitions and operational milestones that have strengthened its global footprint.
Among key developments, Alpaca acquired an IFSCA-regulated broker-dealer and payment services provider in India’s GIFT City, solidifying its regulated operations in the region.
It also secured UK and European entities, achieving passporting rights across all 30 EEA countries.
The firm introduced global equities trading, beginning with European stocks, and partnered with prominent crypto exchanges, tokenization platforms, and major financial institutions.
These moves have driven impressive financial results: revenue has doubled year-over-year for three straight years, assets under custody for stocks underlying tokenized equities have exceeded $1.5 billion, and monthly active API users have nearly quadrupled in the past six months as the platform enhanced its agentic AI features.
The funding announcement highlights two pivotal forces reshaping global finance.
Assets are increasingly moving onto blockchain networks via tokenization, while AI technologies are rapidly spawning innovative applications and new market participants.
This dual evolution is fueling demand for sophisticated, compliant infrastructure capable of linking conventional and decentralized markets while powering AI-first financial tools.
Yoshi Yokokawa, Co-Founder and CEO of Alpaca, said:
“We are ideally placed to serve as the core infrastructure provider for tokenized worldwide capital markets and AI-powered financial offerings.”
Proceeds from the round will fuel further development of Alpaca’s agent-centric brokerage and API-driven prime brokerage solutions.
These tools enable fintechs, banks, broker-dealers, wealth managers, algorithmic traders, retail investors, and crypto-native platforms to create and grow investment products spanning traditional and on-chain environments. Peak XV’s lead investment highlights belief in Alpaca’s foundational role in tomorrow’s financial ecosystem.
Aakash Kapoor, Principal at Peak XV Partners, noted:
“Alpaca has constructed a contemporary infrastructure suite for worldwide investing. Markets are growing more interconnected and programmable, presenting enormous possibilities. The platform already supports major institutions globally and is pioneering areas such as tokenization, agent-based trading, and on-chain systems—all accessible via one unified API.”
This capital injection represents a significant step forward for Alpaca as it continues scaling regulated infrastructure that bridges conventional markets, tokenized assets, and emerging AI-native financial innovations.
By focusing on developer-friendly, agent-first solutions, the company aims to meet the evolving needs of a rapidly digitizing industry. As tokenization and AI reshape how capital is accessed and managed, platforms like Alpaca are poised to play a central role in finance.