Alpaca Raises $135 Million to Expand AI-Native Brokerage and Tokenized Market Infrastructure

• Alpaca has raised $135 million in equity financing, bringing its total financing to $435 million after including debt funding.
• The capital will accelerate development of AI-native brokerage infrastructure, API-first prime brokerage services, and regulated infrastructure for tokenized financial markets.
• The company reported more than $1.5 billion in assets under custody (AUC) supporting tokenized equities and nearly fourfold growth in monthly active API users.
• The funding follows Alpaca’s expansion into India and Europe, positioning the company to serve institutional clients across traditional and blockchain-based financial markets.

Alpaca has secured $135 million in a new equity funding round led by Peak XV Partners, with participation from Elefund, Opera Tech Ventures and Unbound. Combined with debt financing primarily backed by Payward, the parent company of Kraken, and BMO, the raise brings the company’s total financing to $435 million. The fresh capital will be used to expand brokerage infrastructure built for AI-powered investing, tokenized assets and institutional financial services.

Unlike consumer-focused trading platforms, Alpaca operates behind the scenes by providing brokerage APIs that enable banks, fintech companies, broker-dealers, wealth managers and crypto platforms to launch investment products. The latest financing reflects growing investor interest in tokenized securities infrastructure that connects traditional capital markets with blockchain networks rather than speculative digital assets.

We are grateful to announce a $135 million raise led by @peakxvpartners, with major participation from @ElefundVC. Additional new and returning investors include Opera Tech Ventures, the venture capital arm of BNP Paribas Group, and Unbound pic.twitter.com/B8ogVGop0r

— Alpaca (@AlpacaHQ) July 16, 2026

The company secured $135 million in new equity financing from Peak XV Partners, Elefund, Opera Tech Ventures and Unbound to accelerate its AI-first brokerage platform and API-driven financial services.

Funding Highlights

• Equity financing: $135 million
• Total financing: $435 million, including debt financing
• Lead investor: Peak XV Partners
• Key participants: Elefund, Opera Tech Ventures and Unbound
• Debt financing: Primarily from Payward (Kraken’s parent company) and BMO
• Primary focus: AI-native brokerage infrastructure, API-first prime brokerage and tokenized market services

Why the Raise Matters

The funding comes as financial institutions increasingly explore tokenized securities and AI-driven investment workflows. Alpaca believes these two trends are creating demand for regulated infrastructure capable of supporting both traditional brokerage services and blockchain-based financial products through a single technology stack. Rather than building consumer applications, the company is focused on supplying the underlying brokerage and settlement infrastructure used by other financial firms.

Business Growth Supported the Investment

The financing follows a series of operational milestones achieved over the past year.

Key highlights include:

• Revenue doubled year over year for the third consecutive year.
• Assets under custody backing tokenized equities surpassed $1.5 billion.
• Monthly active API users increased nearly fourfold as AI capabilities expanded.
• The platform onboarded major crypto exchanges, tokenization platforms and financial institutions.
• Alpaca continued expanding its regulated footprint across multiple international markets.

Expansion Strengthens Global Regulatory Presence

The company has paired product development with regulatory expansion to broaden its international reach.

Recent milestones include:

• Acquiring an IFSCA-regulated broker-dealer and payment service provider in GIFT City, establishing a regulated presence in India.
• Completing acquisitions of regulated entities in the United Kingdom and Europe.
• Finalizing passporting across the European Economic Area to expand investment services.
• Launching access to European equities trading for global clients.

AI Is Becoming a New Brokerage Customer

One of the more significant developments behind the funding is Alpaca’s focus on AI agents rather than solely human traders.

The company has introduced developer tools that allow AI systems to analyze markets and execute trades through brokerage APIs. As financial firms increasingly automate investment research and execution, brokerage infrastructure designed for machine-driven workflows could become a growing segment of the financial technology market. Alpaca said monthly API activity has accelerated alongside adoption of these AI capabilities.

Tokenized Markets Remain a Core Growth Driver

Alpaca also continues expanding its role in tokenized financial markets by providing regulated brokerage infrastructure for platforms offering blockchain-based representations of traditional assets. The company supports financial firms seeking to integrate tokenized equities and other investment products while handling brokerage, clearing and settlement functions through its API platform. Its growing role in the sector is also reflected in Binance’s stake in Alpaca, alongside the companies’ partnership to support tokenized U.S. stocks and ETFs, reinforcing Alpaca’s position as a key infrastructure provider connecting traditional capital markets with on-chain finance.

What’s Next

The latest financing positions Alpaca to expand into API-first prime brokerage, an area traditionally dominated by large investment banks. As tokenization and AI adoption continue to reshape capital markets, the company plans to strengthen its infrastructure offerings for institutional clients while expanding regulated brokerage services across additional international markets. The funding round also stands out among recent Web3 fundraising updates, reflecting continued investor interest in regulated infrastructure that bridges traditional finance with blockchain-based markets.