FinTech Infrastructure Alpaca Completes $150 Million Funding Round Led by Drive Capital

Odaily News: FinTech infrastructure provider Alpaca announced the completion of a $150 million Series D funding round, with a valuation reaching $1.15 billion. This round was led by Drive Capital, with participation from Citadel Securities, cryptocurrency exchange Kraken, and the venture capital arm of BNP Paribas. As part of the funding, Alpaca also secured a $40 million credit line. The software created by Alpaca enables companies to more easily offer trading services for stocks, ETFs, cryptocurrencies, and other financial instruments. Yoshi Yokokawa, co-founder and CEO of the company, stated that as the boundaries between traditional finance and the crypto space blur, platforms are integrating services, and Alpaca's annual recurring revenue has exceeded $100 million. (Fortune)