Alpaca, a self-clearing broker-dealer and brokerage infrastructure API provider, announced its intent to acquire WealthKernel, a wealthtech firm specializing in digital investment infrastructure and tax-advantaged products. This acquisition aims to integrate WealthKernel’s UK and EU-licensed brokerage infrastructure into Alpaca’s operations, supporting its global expansion strategy.
Yoshi Yokokawa, CEO of Alpaca, stated, “The acquisition of WealthKernel is a major step for Alpaca in becoming a truly global brokerage infrastructure. WealthKernel has gained a highly regarded reputation in the UK and EU through working closely with a number of financial institutions. With WealthKernel joining us, we’re directly entering the UK and EU, enhancing our support of global institutions that desire regulated investing across borders.”
WealthKernel’s capabilities include wealth management features such as ISAs, SIPPs, and other tax-advantaged accounts, which are intended to complement Alpaca’s existing trading infrastructure. Alpaca, which has previously supported UK and EU partners, anticipates gaining the ability to operate as a fully authorized broker-dealer through WealthKernel’s licenses.
Karan Shanmugarajah, CEO of WealthKernel, commented, “Joining forces with Alpaca will allow us to scale our mission faster, while maintaining the high standards our clients expect. We’re excited to bring our regulatory expertise and deep product set to Alpaca’s global platform.”
This transaction intends to unite teams with expertise in brokerage operations, compliance, and financial technology, leveraging shared technology and compliance frameworks. Nadia Asoyan, Alpaca’s recently appointed CFO, previously held executive roles at Robinhood and Square. The combined organization is expected to maintain global operations with hubs in North America, Europe, and Asia.
The intended acquisition reinforces Alpaca’s position as a full-stack, global brokerage infrastructure provider, designed to enable brokers, banks, and fintechs to launch trading, custody, and wealth products. Earlier this year, Kraken partnered with Alpaca to offer commission-free US equities trading to its US clients, joining Alpaca’s network of over 200 global partners.
Completion of the acquisition is subject to regulatory approval from the UK Financial Conduct Authority and the Spanish Comisión Nacional del Mercado de Valores.
Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure provider for stocks, ETFs, options, crypto, fixed income, and 24/5 trading. The company has raised over USD170 million in funding from investors including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Derayah Financial, Elefund, and Y Combinator.
WealthKernel provides investment and savings infrastructure for regulated businesses in the UK and EU. Its focus is on modern wealth products, compliance, and developer-first technology to facilitate the building and scaling of digital investment experiences.
