Alpaca Raises $150 Million at a $1.15B Valuation to Build the Global Standard for Brokerage Infrastructure

(BUSINESS WIRE)--Alpaca, a global leader in brokerage infrastructure whose APIs empower partners like Kraken, SBI Securities, and Dime!, today announced it has raised a $150 million Series D led by Drive Capital that values the company at $1.15 billion. Drive Capital’s Co-Founder and Partner, Chris Olsen, will join Alpaca’s Board of Directors as part of the investment. The company also secured a $40 million line of credit, further strengthening its balance sheet as it continues to expand globally.

“Our mission is to open financial services to everyone on the planet,” said Yoshi Yokokawa, Co-Founder and CEO of Alpaca. “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.”

Alpaca’s scalable APIs and self-clearing custody enable global access to stocks, ETFs, options, and fixed income products. Today, Alpaca has partnered with over 300 organizations in more than 40 countries — supporting millions of brokerage accounts at leading financial institutions and fintechs. That momentum has translated into strong business performance, with the company more than doubling its year-over-year revenue.

In addition to Drive Capital, participants in the round included Citadel Securities; Opera Tech Ventures (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, a leading Australasian venture capital and private equity manager; X&KSK, the firm launched by Japanese soccer legend and technology investor, Keisuke Honda; Bank Muscat in the Middle East; and the global investment fund of Endeavor, Endeavor Catalyst. Returning investors include Portage, Horizons Ventures, Social Leverage, Unbound, Diagram, and Derayah Financial, whose continued participation signals long-term conviction in Alpaca’s trajectory. The round also includes angel investor participation from Revolut’s CTO, Vlad Yatsenko.

“Some of the most transformative companies in technology are the ones behind the scenes powering entire industries,” said Olsen, Co-Founder and Partner of Drive Capital. “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 deploy the proceeds to further strengthen its global investment infrastructure in support of sophisticated financial institutions and institutional trading clients worldwide. In parallel with expanding and enhancing its existing asset offerings, the company is establishing local market presence and securing regulatory licenses in key jurisdictions, advancing institutional-grade trading capabilities, bridging traditional and on-chain financial ecosystems, and reinforcing cybersecurity and platform resilience. These initiatives underscore Alpaca’s commitment to maintaining its leadership role in the ongoing modernization of global capital markets.

"Alpaca's infrastructure has been a core pillar to Sarwa's expansion since 2021. Our partnership allowed us to connect global markets and MENA investors. By integrating with their APIs, we've become a comprehensive investment powerhouse. Stocks, ETFs, bonds, and so much more. We became Alpaca's first partner to offer options trading globally," says Mark Chahwan, Co-Founder and Group CEO at Sarwa. "Our mission is to democratize investing for our community. We're proud to grow with a partner who shares our obsession with transparency and innovation."

2025 was a breakout year for Alpaca. The company dramatically expanded its product suite with multi-leg options, fully paid securities lending, fixed-income, and 24/5 U.S. stock trading. Alpaca introduced High-Yield Cash through an interest-bearing sweep program and expanded its regulatory and clearing footprint by securing OCC and FICC memberships. Alpaca also became a Nasdaq Exchange Member and added support for embeddable Shariah-compliant investing solutions across savings accounts, options, and instant funding.

About Alpaca

Alpaca is a US-headquartered, self-clearing broker-dealer and a global leader in brokerage infrastructure APIs providing access to stocks, ETFs, options, and fixed income. Alpaca delivers embeddable finance solutions for fully paid securities lending, high-yield cash, 24/5 trading, Shariah-compliant investing and more. Today, Alpaca powers over 9 million brokerage accounts across hundreds of fintechs and institutions in 40+ countries with over $321M in funding. For more information, visit: alpaca.markets

AlpacaDB, Inc., the parent company of Alpaca Securities LLC, provides services and technology, including the brokerage infrastructure API supporting Alpaca’s financial services.

Securities brokerage services are provided by Alpaca Securities LLC, member FINRA/SIPC, a wholly owned subsidiary of AlpacaDB, Inc.

Alpaca does not make any representation that its products or services are Shariah-compliant.

This is not an offer, solicitation of an offer, or advice to buy or sell securities or open a brokerage account in any jurisdiction where Alpaca Securities is not registered or licensed, as applicable.

All investments involve risk; for more information, please see our Disclosure Library.

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