According to Fortune, fintech infrastructure provider Alpaca has completed a $150 million Series D funding round, valuing the company at $1.15 billion. The round was led by Drive Capital, with participation from Citadel Securities, cryptocurrency exchange Kraken, and the venture capital arm of BNP Paribas. As part of the financing, Alpaca also secured a $40 million credit line. Alpaca's software enables companies to more easily offer trading services for stocks, ETFs, cryptocurrencies, and other financial instruments. Yoshi Yokokawa, co-founder and CEO of Alpaca, stated that as the boundaries between traditional finance and the crypto sector blur and platforms integrate services, Alpaca's annual recurring revenue has exceeded $100 million.
Alpaca Completes $150M Funding Round, Valued at $1.15B
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Summary
Alpaca closed a $150 million D-round at a $1.15 billion valuation, with Drive Capital leading and Citadel Securities, Kraken, and BNP Paribas Ventures participating. The company also secured a $40 million credit facility. Alpaca's platform enables businesses to offer trading in stocks, ETFs, cryptocurrency, and more. CEO Yoshi Yokokawa stated that the company's annual recurring revenue has surpassed $100 million, as funding rates and the fear and greed index indicate growing demand for integrated financial services.
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