Alpaca, a global provider of agent-first brokerage infrastructure, has secured a $135m funding round as it looks to cement its position at the intersection of tokenised capital markets and AI-driven financial services.
The round was led by Peak XV, with substantial backing from Elefund. Other new and existing investors joining the raise included Unbound and Opera Tech Ventures, the venture capital division of BNP Paribas Group. Together with debt financing provided chiefly by BMO and Payward, the parent of digital asset platform Kraken, the total financing package reaches $435m.
The capital injection follows the company’s $150m Series D, unveiled in January 2026, which pegged its valuation at $1.15bn. Since then, Alpaca has recorded a string of milestones. These include the purchase of an IFSCA-regulated broker-dealer and payment service provider in GIFT City, giving it a regulated foothold in India, alongside the acquisition of authorised entities in the UK and Europe and passporting across all 30 EEA countries.
The firm has also rolled out global equities access, beginning with European share trading, and brought major crypto exchanges, tokenization platforms and financial institutions onto its platform. Revenue has doubled annually for three years running, assets under custody backing tokenised equities have climbed past $1.5bn, and monthly active API users have expanded nearly fourfold over the past six months as the company built out its agentic AI capabilities.
The raise arrives against the backdrop of two structural changes sweeping through finance: the migration of assets onchain via tokenization, and the rapid emergence of AI-built financial applications and market participants. Alpaca argues these forces are fuelling appetite for regulated infrastructure capable of linking traditional and onchain markets.
Alpaca provides brokerage and API-first prime brokerage infrastructure that lets financial firms and institutional clients build and grow investing products spanning both conventional and onchain markets. Its customers include FinTechs, banks, broker-dealers, wealth managers, algorithmic trading houses, active traders and crypto-native platforms around the world. The fresh capital will go towards accelerating this infrastructure.
Alpaca co-founder and CEO Yoshi Yokokawa said, “Alpaca is uniquely positioned to become the default infrastructure layer for tokenized global capital markets and AI-native financial services. The support from our investors reflects confidence in Alpaca’s execution and the market opportunity ahead. As tokenization reshapes access to global markets and AI accelerates the creation of new financial applications and market participants, demand is growing for regulated infrastructure built for this paradigm shift.”
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