Alpaca raises $135 million to expand AI-native brokerage and tokenization market infrastructure

Alpaca has completed US$135 million in equity financing, and after adding debt financing, the total financing amount reaches US$435 million. This funding will accelerate the development of native brokerage infrastructure for AI, API-first prime broker services, and regulated infrastructure for tokenized financial markets.

The company reported that custody assets (AUCs) supporting tokenized stocks exceeded US$1.5 billion, and monthly active API users increased nearly fourfold.

Prior to this financing, Alpaca had expanded into Indian and European markets, allowing it to serve institutional customers in traditional and blockchain financial markets.

Alpaca raised US$135 million in a new round of equity financing, led by Peak XV Partners, with participation from Elefund, Opera Tech Ventures and Unbound. Coupled with debt financing backed mainly by Kraken's parent companies Payward and BMO, the company's total financing reached $435 million. The new funds will be used to expand the brokerage infrastructure built for AI-driven investments, tokenized assets and institutional financial services.

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

We are pleased to announce the completion of a US$135 million financing, led by @peakxvpartners, with @ElefundVC mainly participating. Other new and existing investors include Opera Tech Ventures, the venture capital arm of BNP Paribas, and Unbound-Alpaca (@AlpacaHQ) July 16, 2026

The company has received US$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.

Financing Highlights

Equity Financing: US$135 million

Total Financing: US$435 million, including debt financing

Leading Investor: Peak XV Partners

Major Participants: Elefund, Opera Tech Ventures and Unbound

Debt financing: Mainly from Kraken's parent company Payward and BMO

Main directions: AI-native brokerage infrastructure, API-preferred master broker services and tokenized market services

Financing significance

This financing comes at a time when financial institutions are increasingly exploring tokenized securities and AI-driven investment processes. Alpaca believes that these two trends are creating a need 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 focuses on providing the underlying brokerage and clearing infrastructure used by other financial companies.

Investment to support business growth

This round of financing follows a series of operational milestones achieved by the company over the past year. The main highlights include:

Revenue doubled year-on-year for the third consecutive year.

Custody assets supporting tokenized stocks exceed US$1.5 billion.

As AI capabilities expand, monthly active API users have increased nearly fourfold.

The platform introduces major cryptocurrency exchanges, tokenization platforms and financial institutions.

Alpaca continues to expand its regulated business scope in multiple international markets.

Expansion strengthens global regulatory landscape

The company combines product development with regulatory expansion to expand its international influence. Recent milestones include:

acquired an IFSCA-regulated broker dealer and payment service provider in GIFT City and established a regulated business in India.

Completed acquisitions of UK and European regulated entities.

Completed passport passage in the European Economic Area to expand investment services.

Launched a European equity trading channel for global clients.

AI is becoming a new client of brokerage business

A more important development behind this round is that Alpaca is focusing on AI agents rather than just human traders. The company has launched developer tools that allow AI systems to analyze markets and execute transactions through brokerage APIs. As financial companies increasingly automate investment research and execution, brokerage infrastructure designed specifically for machine-driven workflows could become a growing part of the fintech market. Alpaca said that with the adoption of these AI capabilities, monthly API activity has accelerated.

The tokenized market remains a core growth driver

Alpaca also continues to expand its role in the tokenized financial market, providing regulated brokerage infrastructure for platforms that provide blockchain-based traditional asset representations. The company supports financial companies seeking to integrate tokenized stocks and other investment products, while handling brokerage, clearing and settlement functions through its API platform. Its growing role in the industry is also reflected in Binance's shareholding in Alpaca and the two companies 'cooperation to support tokenization of U.S. stocks and ETFs, which consolidates Alpaca's position as a key infrastructure provider connecting traditional capital markets and on-chain finance.

Future Outlook

The latest financing allows Alpaca to expand into API-preferred prime broker services, an area traditionally dominated by large investment banks. As tokenization and AI adoption continue to reshape capital markets, the company plans to strengthen infrastructure products for institutional customers while expanding regulated brokerage services in more international markets. This round of financing has been particularly prominent in recent Web3 financing developments, reflecting investors 'continued interest in regulated infrastructure that connects traditional finance and blockchain markets.