What Alpaca does
Alpaca is a brokerage platform that provides access to financial markets through developer-friendly APIs.[1] Alpaca's Broker API lets fintechs and institutions build investing apps, while its Trading API lets programmatic traders, hedge funds and prop firms automate trading strategies.[1] Alpaca describes itself as a US-headquartered, self-clearing broker-dealer providing access to stocks, ETFs, options, fixed income and crypto.[2] Alpaca's broker-dealer, Alpaca Clearing, registered with FINRA and the SEC in 2018.[1]
Business model and customers
Alpaca supports more than 10 million brokerage accounts across hundreds of fintechs and institutions in over 40 countries, as reported by Pulse 2.0 in July 2026.[3] Alpaca has doubled its revenue year over year for three consecutive years, according to the company in July 2026.[3] CEO Yoshi Yokokawa told Fortune in January 2026 that Alpaca's annual recurring revenue is more than $100 million.[4] Crypto exchange Kraken uses Alpaca to offer equities trading, as reported by Fortune.[4] Alpaca holds more than $1.5 billion in assets under custody for the stocks underlying tokenized equities, as reported by Pulse 2.0 in July 2026.[3]
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Recent changes
- Jul 18, 2026Jul 18, 2026Alpaca Raises $135M ($435M With Debt) for Agent-First Brokerage Pulse story
- Jul 16, 2026Jul 16, 2026Raised $135M Pulse 2.0 (Alpaca release)
- Jul 16, 2026Jul 16, 2026New investor: Peak XV Partners Pulse 2.0 (Alpaca release)
- Jul 16, 2026Jul 16, 2026Alpaca Raises $135M to Build Agent-First Brokerage Rails Pulse story
Funding History
1 event · sources dated per row| Date | Event | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jul 16, 2026 | funding round | $135M | — | Pulse 2.0 (Alpaca release) |
How Alpaca has been funded
Alpaca raised a $150 million Series D in January 2026 at a $1.15 billion valuation, led by Drive Capital with Citadel Securities, Kraken and BNP Paribas's venture arm participating, as reported by Fortune.[4] Alpaca raised $135 million in equity on July 16, 2026, led by Peak XV Partners with significant participation from Elefund.[3] Opera Tech Ventures, BNP Paribas Group's venture arm, and Unbound also joined Alpaca's July 2026 round.[3] Alpaca's broader July 2026 financing package totals $435 million including debt financing, mainly from Kraken parent Payward and BMO; that debt is not equity funding.[3],[5] Alpaca said it will use the July 2026 financing for its agent-first brokerage and API-first prime brokerage infrastructure, as reported by Cointelegraph.[5]
Investors and their roles
- Peak XV Partners (led the $135M round, Jul 2026)[3]
- Elefund (significant participant in the $135M round, Jul 2026)[3]
- Opera Tech Ventures, BNP Paribas's VC arm (Jul 2026 round; also in Series D, Jan 2026)[3],[4]
- Unbound (Jul 2026 round)[3]
- Drive Capital (led the Series D, Jan 2026)[4]
- Citadel Securities and Kraken (Series D, Jan 2026)[4]
- Tribe Capital, Portage Ventures, Spark Capital, Social Leverage, Horizons Ventures, SBI Group, Derayah Financial and Y Combinator (earlier backers listed by Alpaca)[6]
Investors
Latest Pulse
- Oct 15, 2026North.cloud Raises $60M Series B To Tame AI SpendNorth.cloud raised a $60 million Series B led by PeakSpan Capital to expand its platform for tracking and automating cloud, AI and data spend, which it says now manages nearly $2 billion for customers.→
- Jul 19, 2026Why AI Term Sheets Cleared While Chip Stocks CrateredThe same week the Philadelphia Semiconductor Index fell into a bear market and Alphabet lost roughly $200 billion in a day, VCs closed more than $2 billion in new AI and fintech infrastructure rounds -- a split that rarely lasts.→
- Jul 19, 2026Why the Biggest Checks Skipped the Chatbots This WeekNone of this week's largest rounds went to a consumer-facing AI app -- Fireworks, Alpaca, NetApp's DataPelago deal and Forward Financing all sit in infrastructure layers investors are betting will outlast whichever model currently tops the leaderboard.→
- Jul 18, 2026Alpaca Raises $135M ($435M With Debt) for Agent-First BrokerageAlpaca raised $135 million in equity led by Peak XV, plus debt financing from Kraken parent Payward and BMO for $435 million in total capital, to scale brokerage infrastructure for tokenized markets and AI trading agents.→
- Jul 16, 2026Alpaca Raises $135M to Build Agent-First Brokerage RailsAlpaca raised $135 million in equity led by Peak XV; counting separate debt financing from Payward and BMO, its total new financing was $435 million, to build brokerage infrastructure designed for AI agents and tokenized markets rather than human traders.→
Coverage Timeline
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Alpaca FAQ
How much has Alpaca raised?
Value Add VC tracks $285 million in equity across 2 rounds for Alpaca: a $150 million Series D in January 2026 and a $135 million round in July 2026; the $435 million figure reported for July 2026 includes debt.[4],[3]
Who invested in Alpaca?
Peak XV Partners led Alpaca's $135 million round in July 2026, and Drive Capital led its $150 million Series D in January 2026.[3],[4]
What is Alpaca's valuation?
Alpaca was valued at $1.15 billion in its Series D in January 2026, as reported by Fortune.[4]
Who founded Alpaca?
Alpaca was founded by Yoshi Yokokawa, its CEO, and Hitoshi Harada, its CPO; the company started in 2015 as a database and machine learning company.[2],[1]
Where is Alpaca based?
Alpaca is headquartered in California and operates as a fully remote company with more than 250 employees in 25 countries.[1]
Is Alpaca public?
Alpaca raised a private $135 million equity round in July 2026, so it is privately held as of that date.[3]
References
researched 2026-10-19Sources & methodologyshow
Where these figures come from
- Pulse 2.0 (Alpaca release)Value Add VC data1 fact
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.