Alpaca Bags $135M and Up to $300M in Credit to Build Brokerage Bots Can Actually Use 🤖

Brokerage infrastructure provider Alpaca announced Thursday it raised $135 million in an equity round led by Peak XV, alongside up to $300 million in debt financing from Kraken parent Payward and BMO. The company previously closed a $150 million Series D in January that valued it at $1.15 billion, and counts the venture capital arm of BNP Paribas among its earlier backers, according to a statement from Alpaca.

Alpaca said the new capital will fund expansion of its agent-first brokerage and API-first prime brokerage infrastructure. "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 co-founder and CEO Yoshi Yokokawa.

The financing lands as tokenized equities continue to grow. The global market capitalization of tokenized stocks hit a record $2.3 billion, according to an X post by data aggregator Token Terminal on Wednesday. Crypto platforms are increasingly bringing traditional investment products on-chain, often making them available to investors outside the United States.

Binance disclosed last month a revenue-sharing arrangement with Alpaca, under which Alpaca provides brokerage, clearing and custody infrastructure for Binance's stock trading product.