Alpaca, a US-headquartered provider of brokerage infrastructure APIs, has announced the completion of a $150 million Series D funding round, led by Drive Capital, which values the company at $1.15 billion.
The investment was accompanied by a $40 million line of credit, enhancing Alpaca’s financial position as it pursues global expansion. Chris Olsen, Co-Founder and Partner at Drive Capital, will join Alpaca’s Board of Directors as part of the transaction.
Alpaca’s Co-Founder and CEO, Yoshi Yokokawa, stated, “Our mission is to open financial services to everyone on the planet. We are building the global standard for brokerage infrastructure so our partners can bring investing to more people. This raise gives us the fuel to deliver more faster to both our enterprise partners and active traders globally.” The company’s APIs and self-clearing custody provide global access to various financial products, including stocks, ETFs, options, crypto, and fixed income.
Alpaca currently partners with over 300 organizations across more than 40 countries, supporting millions of brokerage accounts for financial institutions and fintechs. Notable partners include Kraken, SBI Securities, and Dime!. The company reported powering 94% of all tokenized U.
S. equities and ETFs, highlighting its role in integrating traditional and on-chain financial systems. This momentum has contributed to the company more than doubling its year-over-year revenue.
In addition to Drive Capital, the funding round saw participation from Citadel Securities, Opera Tech Ventures (the VC arm of BNP Paribas), MUFG Innovation Partners, Flat Capital (with Sebastian Siemiatkowski, CEO of Klarna, as controlling UBO and Chairman), DRW Venture Capital, Kraken, Altered Capital, X&KSK (firm launched by Japanese investor Keisuke Honda), Bank Muscat, and Endeavor Catalyst. Returning investors included Portage, Horizons Ventures, Social Leverage, Unbound, Diagram, and Derayah Financial. Vlad Yatsenko, CTO of Revolut, also participated as an angel investor.
Chris Olsen commented on the investment, stating, “Some of the most transformative companies in technology are the ones behind the scenes powering entire industries. Just as Stripe and Plaid rewired payments and financial data pipes, Alpaca is redefining how global investing infrastructure works. They’re building the foundational layer that modern financial institutions will depend on for the next decade.”
Alpaca intends to use the capital to reinforce its global investment infrastructure for sophisticated financial institutions and institutional trading clients. The company plans to expand and enhance its existing asset offerings, establish local market presence, and secure regulatory licenses in key jurisdictions. Further initiatives include advancing institutional-grade trading capabilities, bridging traditional and on-chain financial ecosystems, and strengthening cybersecurity and platform resilience.
Recent developments at Alpaca, notably in what it described as a “breakout year” (referring to 2025 in the original article, presumed as recent past achievements), include expanding its product suite to feature multi-leg options, fully paid securities lending, fixed-income products, and 24/5 U.
S. stock trading. The company also introduced High-Yield Cash via an interest-bearing sweep program and unveiled its Instant Tokenization Network at TOKEN2049 Singapore with launch partners such as xStocks, Dinari, Ondo Finance, and The Solana Foundation. Furthermore, Alpaca expanded its regulatory and clearing footprint by securing OCC and FICC memberships, became a Nasdaq Exchange Member, and integrated support for embeddable Shariah-compliant investing solutions across savings accounts, options, and instant funding.
Alpaca, with over $320 million in total funding, is a US-headquartered, self-clearing broker-dealer providing access to stocks, ETFs, options, fixed income, and crypto. It delivers embeddable finance solutions for various services including tokenization, fully paid securities lending, high-yield cash, 24/5 trading, and Shariah-compliant investing, powering over 9 million brokerage accounts globally.
