Alpaca has secured USD 150 million in its latest Series D funding round led by Drive Capital, reaching a valuation of USD 1.15 billion.
As part of the investment, Drive Capital’s co-funder will join Alpaca’s Board of Directors. The company raised USD 40 million in credit, strengthening its balance sheet as it plans to accelerate its global expansion.
Optimising brokerage infrastructure
Alpaca’s mission is to open financial solutions for everyone while strengthening its brokerage infrastructure for its partners so that they can bring investing to more individuals. The funds offer the company the tools it needs to provide faster services to its enterprise partners and active traders alike.
The company’s API and self-clearing custody allow access to stocks, ETFs, crypto, and fixed outcome products. Operating across 40 countries, it supports millions of brokerage accounts at global FIs and fintechs. In 2025, Alpaca showed it had powered 94% of all tokenised US equities and ETFs in its tokenisation report, reflecting its role in the convergence of fiat and on-chain rails. This, in return, doubled the company’s YoY revenue.
The proceeds will be utilised to progress Alpaca’s global investment infrastructure, supporting sophisticated financial institutions and institutional trading clients worldwide. Alongside expanding and asset offering optimisation, the broker-dealer aims to establish a stronger market presence and secure regulatory licences to advance its trading features. This will bridge the gap between traditional and on-chain financial landscapes, focusing on resilience and security.
All these moves reflect Alpaca’s commitment to strengthening its role in the market and modernising global capital markets. Last year, the firm expanded its product suite with multi-leg options, paid securities lending, fixed-income, and 24/5 US stock trading. It also introduced high-yield cash through a sweep programme, and announced the launch of its Instant Tokenization Network in partnership with xStocks, Dinari, Ondo Finance, and The Solana Foundation.
