Alpaca Secures $135 Million to Build Out Tokenized, AI-Driven Trading Infrastructure

Brokerage infrastructure provider Alpaca announced Thursday that it raised $135 million in a funding round led by Peak XV, along with up to $300 million in additional debt financing from Kraken’s parent company, Payward, and BMO.

Funding Details and Company Valuation

This latest round follows a $150 million Series D raise back in January that pushed Alpaca’s valuation to $1.15 billion. The company’s earlier backers include the venture capital division of BNP Paribas, which has continued supporting Alpaca’s growth. According to the company, the new capital will go toward expanding its agent-first brokerage systems and API-first prime brokerage infrastructure.

Why Alpaca Is Making This Move

Yoshi Yokokawa, Alpaca’s co-founder and CEO, said tokenization is changing how people access global markets, while AI is speeding up the creation of new financial applications and participants. He said this shift is driving stronger demand for regulated infrastructure built specifically to support this kind of change in how markets function.

Growing Momentum in Tokenized Markets

This funding comes as the tokenized stock market reaches new highs, with its global market capitalization hitting a record $2.3 billion, according to data shared by Token Terminal.

Existing Partnership With Binance

Alpaca already has an established relationship with Binance, having disclosed a revenue sharing arrangement with the exchange last month. Under that deal, Alpaca provides brokerage, clearing, and custody infrastructure supporting Binance’s stock trading product, positioning the company as key infrastructure behind one of the crypto industry’s larger tokenized equity offerings.