Alpaca raises $150m Series D at $1.15bn valuation

January 14, 2026

Alpaca, a US-headquartered provider of brokerage infrastructure APIs, has raised significant new funding to accelerate its global expansion.

The company has closed a $150m Series D funding round led by Drive Capital, valuing Alpaca at $1.15bn. Alongside the equity raise, Alpaca also secured a $40m line of credit to further bolster its balance sheet.

As part of the transaction, Drive Capital co-founder and partner Chris Olsen will join Alpaca’s board of directors.

In addition to Drive Capital, the round attracted a broad group of strategic and financial investors. These included Citadel Securities; Opera Tech Ventures, the venture capital arm of BNP Paribas; MUFG Innovation Partners; Flat Capital, backed by Klarna CEO Sebastian Siemiatkowski; DRW Venture Capital; Kraken; Altered Capital; X&KSK; Bank Muscat; and Endeavor Catalyst.

Returning investors included Portage, Horizons Ventures, Social Leverage, Unbound, Diagram and Derayah Financial. The round also featured angel participation from Revolut CTO Vlad Yatsenko.

Alpaca’s APIs and self-clearing custody platform provide access to stocks, ETFs, options, digital assets and fixed income products. The company now partners with more than 300 organisations across over 40 countries, supporting millions of brokerage accounts at financial institutions and FinTech platforms.

Late last year, Alpaca reported that it powered 94% of all tokenised US equities and ETFs, highlighting its role in the convergence of traditional finance and on-chain infrastructure. The company has also more than doubled its year-over-year revenue.

The fresh capital will be used to strengthen Alpaca’s global investment infrastructure for institutional trading clients. This includes expanding asset offerings, establishing local market presence, securing regulatory licences in key jurisdictions, advancing institutional-grade trading capabilities, bridging traditional and on-chain financial ecosystems, and reinforcing cybersecurity and platform resilience.

During 2025, Alpaca expanded its product suite with multi-leg options, fully paid securities lending, fixed income products and 24/5 US stock trading. It also launched High-Yield Cash through an interest-bearing sweep programme and announced its Instant Tokenization Network at TOKEN2049 Singapore with partners including xStocks, Dinari, Ondo Finance and The Solana Foundation.

Alpaca CEO Yoshi Yokokawa said, “Our mission is to open financial services to everyone on the planet.

“We’re proud to contribute to Saudi Vision 2030 by building the global standard for brokerage infrastructure, including infrastructure that enables Shariah-compliant investing, empowering partners to build financial services that align with Islamic law. This raise gives us the fuel we need to continue delivering infrastructure that serves our global enterprise partners and active traders.”

Drive Capital co-founder and partner Chris Olsen said, “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.”