Overview
- Drive Capital led the Series D, with Citadel Securities, Kraken and BNP Paribas’ Opera Tech Ventures among participants, and Drive cofounder Chris Olson is reportedly joining the board.
- The company also secured a $40 million line of credit to bolster its balance sheet as it scales.
- CEO Yoshi Yokokawa said annual recurring revenue exceeds $100 million, with more than 300 partner organizations in 40+ countries supporting millions of brokerage accounts.
- Alpaca provides API-based brokerage infrastructure and self-clearing custody that support stocks, ETFs, options, crypto and fixed income for fintechs and financial institutions.
- Management says the proceeds will strengthen global infrastructure, bridge traditional and decentralized systems, and help it compete with Interactive Brokers, highlighting recent memberships at OCC, FICC and Nasdaq.