Alpaca secures $435M to grow tokenized equity platform

Fintech infrastructure firm Alpaca has secured a $435 million financing package to accelerate its expansion into tokenized equities and AI-driven brokerage services, the company announced this week. The funding comprises $135 million in equity led by Peak XV and $300 million in debt financing from Payward, the parent company of cryptocurrency exchange Kraken, and Canadian bank BMO.

The capital injection will be used to develop what the company calls its "agent-first brokerage and API-first prime brokerage infrastructure." This technology enables financial institutions and software developers to build and scale investing products that bridge traditional and blockchain-based markets. Alpaca's CEO, Yoshi Yokokawa, stated that demand is growing for regulated infrastructure as tokenization reshapes global market access and artificial intelligence accelerates the creation of new financial applications.

The funding builds on a period of rapid growth for the Silicon Valley-based company, which completed a $150 million Series D round in January 2026, achieving a valuation of $1.15 billion. The latest financing underscores the rising institutional interest in the backend infrastructure...