Alpaca Raises $135 Million Led by Peak XV to Scale Tokenized Markets Infrastructure

• Alpaca raised $135 million in a round led by Peak XV, taking its new financing to $435 million, including debt primarily from Kraken parent Payward and BMO.
• The raise follows the broker’s $150 million Series D in January 2026, which valued the company at $1.15 billion, and an acquisition that established a regulated presence in India’s GIFT City.
• Alpaca will use the capital to accelerate its agent-first brokerage and API-first prime brokerage infrastructure across traditional and onchain markets.

Alpaca, the US-headquartered self-clearing broker-dealer supporting more than 10 million brokerage accounts, announced on July 16 that it raised $135 million in a round led by Peak XV, with major participation from Elefund. The company said in a press release that its new financing totals $435 million, inclusive of debt primarily from Payward, the parent company of crypto exchange Kraken, and BMO.

New and returning investors in the round included Opera Tech Ventures, the venture capital arm of BNP Paribas Group, and Unbound. The raise arrives six months after Alpaca closed a $150 million Series D in January 2026 at a $1.15 billion valuation.

“Alpaca is uniquely positioned to become the default infrastructure layer for tokenized global capital markets and AI-native financial services,” said Yoshi Yokokawa, co-founder and CEO of Alpaca. “The support from our investors reflects confidence in Alpaca’s execution and the market opportunity ahead.”

An India Footprint and a Global Expansion Run

The round led by Peak XV, the venture firm formerly known as Sequoia Capital India and Southeast Asia, follows a period of aggressive geographic expansion. Since the Series D, Alpaca acquired an IFSCA-regulated broker-dealer and payment service provider in GIFT City, establishing its regulated presence in India. The company also acquired regulated entities in the UK and Europe, completed passporting across all 30 EEA countries, and launched global equities access, starting with European equities trading.

The business metrics behind the raise point to accelerating demand. Alpaca said it has doubled revenue year over year for three consecutive years, surpassed $1.5 billion in assets under custody for the stocks backing tokenized equities, and grew monthly active API users nearly 4x over the past six months as it expanded agentic AI capabilities.

“Alpaca has built the modern infrastructure stack for global investing,” said Aakash Kapoor, principal at Peak XV Partners. “Financial markets are becoming more connected and programmable every day, and that’s a humongous opportunity in our view.”

Why Alpaca Raised $135 Million Now

The financing lands amid growing institutional conviction in tokenization. BlackRock chairman Larry Fink has argued that tokenization could fix structural problems in finance, while Cathie Wood’s ARK recently took a $10 million stake in tokenization firm Securitize. Alpaca is betting that this shift, combined with AI agents entering markets as new participants, will require regulated infrastructure bridging traditional and onchain assets.

Alpaca said it will use the financing to accelerate its agent-first brokerage and API-first prime brokerage infrastructure, enabling financial companies and institutional clients to build and scale investing products across traditional and onchain markets. The company currently powers fintechs, banks, broker-dealers, wealth managers, algorithmic trading firms, and crypto-native platforms across more than 40 countries.

Editorial Note: Reported and edited by the Crypto India Magazine editorial team. We use AI tools to assist with research and drafting; every article is reviewed and fact-checked by our editors.

Interested in advertising with CIM? Talk to us!