Alpaca Secures $150M Series D as Crypto and TradFi Converge

Alpaca Financing Progress and Valuation Milestones

(Source: AlpacaHQ)

Fintech startup Alpaca recently completed its Series D funding round, raising $150 million and reaching a valuation of $1.15 billion, officially achieving unicorn status. The round was led by Ohio-based venture capital firm Drive Capital, with participation from Citadel Securities, crypto exchange Kraken, and BNP Paribas’s venture arm.

Alpaca also secured a $40 million credit line, further enhancing its capital flexibility and operational capacity.

Trading Market Boundaries Are Disappearing

Alpaca’s fundraising comes at a time of rapid transformation in financial market structures. Historically, crypto trading platforms and traditional brokerages operated in separate spheres, but now their products and services are increasingly converging.

Alpaca co-founder and CEO Yoshi Yokokawa noted that the crypto industry must not only contend with the entry of traditional fiat finance, but also proactively integrate conventional financial resources—ultimately creating a unified, integrated trading application ecosystem. For providers still missing key features, rapid adaptation is critical for survival.

From Metallic Financial Systems to Alpaca

Yokokawa and co-founder Hitoshi Harada have been friends since their student days, spending more than a decade developing trading platforms and financial systems. Alpaca was founded in 2015; before that, Yokokawa worked at Lehman Brothers and witnessed the impact of the financial crisis firsthand.

He views financial infrastructure and database systems as “cold and mechanical”—lacking vibrancy and emotion. To counter that, the team intentionally chose a name from nature, full of life, ultimately naming the company Alpaca, inspired by scenes they saw in the Bay Area.

Becoming the Infrastructure Backbone for Brokerage Services

Despite its approachable name, Alpaca’s positioning is distinctly pragmatic. The company does not run its own exchange or serve end users directly; instead, it specializes in delivering comprehensive, broker-grade trading infrastructure.

With Alpaca’s system, businesses can offer stock, options, and crypto asset trading services to users without the need to secure licenses or build trading architecture from the ground up. Kraken is among its clients, leveraging Alpaca’s technology to expand into stock trading. Today, Alpaca’s services are used by hundreds of companies across more than 40 countries.

Core Value Recognized by Investors

Drive Capital co-founder Chris Olson emphasized that Alpaca’s greatest strength lies in its breadth of trading products and market reach. He believes Alpaca has built an inventory of trading assets with exceptional scale and depth—something rarely seen among global peers.

If you want to learn more about Web3, click to register: https://www.gate.com/

Summary

Alpaca’s Series D financing marks not only a major milestone in the company’s growth, but also highlights the accelerating convergence of crypto assets and traditional finance. As trading models continue to integrate, infrastructure providers like Alpaca—offering foundational technology and compliance solutions—are becoming indispensable in the evolving financial ecosystem.