Key Takeaways
- • Alpaca raised $135 million in equity funding led by Peak XV Partners, with participation from Elefund, Unbound, and Opera Tech Ventures (BNP Paribas' venture arm), bringing total capital secured to $435 million when combined with $300 million in debt financing from BMO and Payward.
- • The funding round follows Alpaca's Series D closure in January 2026 at a $1.15 billion valuation; the company has not disclosed a new post-money valuation following this latest equity raise.
- • Alpaca plans to accelerate development of its agent-first brokerage and API-first prime brokerage infrastructure, positioning itself to serve agentic AI-powered investing and trading platforms.
- • The Silicon Valley-based fintech expanded into Europe in 2025 through the acquisition of WealthKernel and has since achieved regulatory passporting across all 30 EEA countries while acquiring additional regulated entities in the region.
- • Alpaca operates a self-clearing broker-dealer model offering full-stack brokerage infrastructure that enables third-party developers to build and scale investment and trading products.
Summary
Alpaca, a US-based fintech platform specializing in brokerage infrastructure, has secured $135 million in equity funding in a round led by Peak XV Partners. Additional equity investors include Elefund, Unbound, and Opera Tech Ventures, the venture capital division of BNP Paribas Group. Beyond equity, Alpaca has also closed $300 million in debt financing commitments from BMO and Payward (parent company of crypto exchange Kraken), bringing total capital raised in this funding cycle to $435 million.
The funding announcement comes seven months after Alpaca closed its Series D round in January 2026, which valued the company at $1.15 billion and brought in $150 million. The company has not disclosed a new valuation following the current equity raise. According to the company statement, the fresh capital will support acceleration of its "agent-first brokerage and API-first prime brokerage infrastructure," reflecting Alpaca's strategic positioning around agentic AI and automation in financial services.
Based in Silicon Valley, Alpaca operates as a self-clearing broker-dealer offering full-stack brokerage infrastructure that allows third-party companies to build and scale investing and trading products powered by agentic AI technology. The platform's infrastructure supports tokenized markets and clearing/custody operations that reportedly handle approximately 94% of market volume in certain segments.
Geographic expansion has been a priority for Alpaca. In 2025, the company began European operations through the acquisition of WealthKernel, a digital investment infrastructure provider. Since that acquisition, Alpaca has expanded its regional footprint by acquiring regulated entities and completing regulatory passporting across all 30 EEA countries, positioning itself for scaled operations across the European market.
This funding round underscores continued institutional backing for infrastructure-layer fintech platforms, particularly those focused on AI-driven automation and developer-centric ecosystems. The participation of both traditional financial institutions (BMO, BNP Paribas) and crypto-adjacent firms (Payward) reflects Alpaca's positioning as a cross-asset infrastructure play.
The funding announcement comes seven months after Alpaca closed its Series D round in January 2026, which valued the company at $1.15 billion and brought in $150 million. The company has not disclosed a new valuation following the current equity raise. According to the company statement, the fresh capital will support acceleration of its "agent-first brokerage and API-first prime brokerage infrastructure," reflecting Alpaca's strategic positioning around agentic AI and automation in financial services.
Based in Silicon Valley, Alpaca operates as a self-clearing broker-dealer offering full-stack brokerage infrastructure that allows third-party companies to build and scale investing and trading products powered by agentic AI technology. The platform's infrastructure supports tokenized markets and clearing/custody operations that reportedly handle approximately 94% of market volume in certain segments.
Geographic expansion has been a priority for Alpaca. In 2025, the company began European operations through the acquisition of WealthKernel, a digital investment infrastructure provider. Since that acquisition, Alpaca has expanded its regional footprint by acquiring regulated entities and completing regulatory passporting across all 30 EEA countries, positioning itself for scaled operations across the European market.
This funding round underscores continued institutional backing for infrastructure-layer fintech platforms, particularly those focused on AI-driven automation and developer-centric ecosystems. The participation of both traditional financial institutions (BMO, BNP Paribas) and crypto-adjacent firms (Payward) reflects Alpaca's positioning as a cross-asset infrastructure play.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.