Brokerage infrastructure provider Alpaca announced a new funding round, raising $135 million in equity led by Peak XV. In addition, the company secured up to $300 million in debt financing from Payward, the parent company of cryptocurrency exchange Kraken, and BMO, one of Canada’s largest financial institutions.
Growth and funding milestones
In January, Alpaca completed a Series D round, drawing in $150 million and valuing the company at $1.15 billion. BNP Paribas’s venture capital arm is among the company’s earlier backers, reflecting continued interest from major players in the financial sector.
Alpaca plans to use the newly raised funds to advance its focus on agent-first brokerage services and expand its API-driven prime brokerage infrastructure.
Strategic positioning amid digital transformation
Yoshi Yokokawa, Alpaca’s co-founder and CEO, highlighted the significance of advancing regulated infrastructure compatible with new market realities. “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,” said Yokokawa.
As tokenization changes global market access and artificial intelligence drives rapid innovation in financial products and user participation, interest is quickly increasing for regulated infrastructure tailored to these shifts, according to Alpaca CEO Yoshi Yokokawa.
According to Token Terminal, the global market capitalization of tokenized stocks reached a record $2.3 billion this week. This milestone reflects growing momentum among crypto platforms in integrating traditional investment products with blockchain-based services, often making these assets available to international investors beyond the United States.
Mini dictionary: Tokenized stocks, or digital representations of shares in traditional companies, allow investors to buy and trade equity-backed tokens on blockchain platforms, providing greater accessibility and efficiency in global markets.
Growing alliances and industry collaborations
Last month, Binance revealed a revenue-sharing partnership with Alpaca. Alpaca supplies brokerage, clearing, and custody infrastructure for Binance’s stock trading products, further extending its reach in connecting traditional finance with blockchain ecosystems.
Alpaca, founded in 2015, specializes in developing technology for brokerages and offers APIs that allow firms to embed investing functionality into their platforms. Its infrastructure supports both emerging fintech companies and established institutions seeking to expand their product offerings in the digital asset space.
Payward, the parent company of Kraken, is a leading global digital asset platform. BMO, or the Bank of Montreal, is one of North America’s largest banks and an active financier in both traditional and emerging technology sectors.
| Funding Source | Type | Amount |
|---|---|---|
| Peak XV | Equity | $135 million |
| Payward (Kraken parent) | Debt | Up to $300 million |
| BMO | Debt | Up to $300 million |
| January Series D round | Equity | $150 million |
Alpaca aims to further shape the next phase of financial technology by integrating regulated, scalable solutions for both crypto-native and traditional investment products worldwide.
