Alpaca, the Silicon Valley-based self-clearing broker-dealer providing global agent-first brokerage infrastructure for tokenized markets and AI-native financial services, has raised $135 million in equity led by Peak XV Partners, with participation from Elefund, Opera Tech Ventures (the VC arm of BNP Paribas), and Unbound, alongside $300 million in debt financing from BMO and Payward (Kraken’s parent), bringing total financing to $435 million. This follows Alpaca’s January 2026 $150 million Series D at a $1.15 billion valuation; since then, the company has doubled revenue for three consecutive years, grown monthly active API users nearly 4x in six months, surpassed $1.5 billion in AUC for underlying stocks backing tokenized equities, and expanded to 10 million+ brokerage accounts across 40+ countries, including acquiring regulated entities across all 30 EEA countries and establishing a regulated presence in India’s GIFT City.

Alpaca Raises $135 Million to Scale Agent-First Brokerage Infrastructure for Tokenized Markets and AI-Native Financial Services