Alpaca raises USD50m in Series B round
Alpaca, a commission-free stock brokerage platform that offers APIs for fintech apps to connect and trade in US stocks, has closed a USD50 million Series B on the heels of driving 1500 per cent year to date growth in brokerage accounts and expanding partnerships across Europe, Southeast Asia, Africa, North and Latin Americas.
“By the end of the year, we’re going to see close to 100 global fintech apps built with our APIs go live with their stock trading platforms,” says Yoshi Yokokawa, Founder and CEO of Alpaca. “We’re unlocking the ability to invest in US companies in places around the world that have never had this opportunity and through fintech partners that share our vision of democratising investing.”
The fundraising round was led by Tribe Capital with participation from Horizons Ventures, Eldridge, and Positive Sum. Alpaca’s existing investors, Portage Ventures, Spark Capital, and Social Leverage, also participated in the round. Since its product launch in 2018, Alpaca has continued to accelerate worldwide growth and adoption of its developer APIs and is now expanding into cryptocurrency.
“Our modern financial system runs on antiquated rails. Alpaca has established itself as the go-to developer-first API for investing by providing an easier, cleaner, and more scalable alternative to what exists today,” says Arjun Sethi, Co-Founder and Partner at Tribe Capital. “Its crypto launch is just the first of many product iterations that will allow global investors to access US markets. We look forward to working with the company to scale its ambitious vision.”