SAN MATEO, Calif.--(BUSINESS WIRE)--Jan 14, 2026--
Alpaca, a global leader in brokerage infrastructure whose APIs empower partners like Kraken, SBI Securities, and Dime!, today announced it has raised a $150 million Series D led by Drive Capital that values the company at $1.15 billion. Drive Capital’s Co-Founder and Partner, Chris Olsen, will join Alpaca’s Board of Directors as part of the investment. The company also secured a $40 million line of credit, further strengthening its balance sheet as it continues to expand globally.
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“Our mission is to open financial services to everyone on the planet,” said Yoshi Yokokawa, Co-Founder and CEO of Alpaca. “We’re proud to contribute to Saudi Vision 2030 by building the global standard for brokerage infrastructure, including infrastructure that enables Shariah-compliant investing, empowering partners to build financial services that align with Islamic law. This raise gives us the fuel we need to continue delivering infrastructure that serves our global enterprise partners and active traders.”
Alpaca’s scalable APIs and self-clearing custody enable global access to stocks, ETFs, options, crypto and fixed income products. Today, Alpaca has partnered with over 300 organizations in more than 40 countries — supporting millions of brokerage accounts at leading financial institutions and fintechs. Late last year, Alpaca revealed that it had powered 94% of all tokenized U.S. equities and ETFs in its tokenization report, underscoring its central role in the convergence of fiat and on-chain rails. That momentum has translated into strong business performance, with the company more than doubling its year-over-year revenue.
In addition to Drive Capital, participants in the round included Citadel Securities; Opera Tech Ventures (VC arm of BNP Paribas); MUFG Innovation Partners; Flat Capital (with Sebastian Siemiatkowski, CEO of Klarna, as controlling UBO and Chairman); DRW Venture Capital; Kraken; Altered Capital, a leading Australasian venture capital and private equity manager; X&KSK, the firm launched by Japanese soccer legend and technology investor, Keisuke Honda; Bank Muscat in the Middle East; and the global investment fund of Endeavor, Endeavor Catalyst. Returning investors include Portage, Horizons Ventures, Social Leverage, Unbound, Diagram, and Derayah Financial, whose continued participation signals long-term conviction in Alpaca’s trajectory. The round also includes angel investor participation from Revolut’s CTO, Vlad Yatsenko.
“Some of the most transformative companies in technology are the ones behind the scenes powering entire industries,” said Olsen, Co-Founder and Partner of Drive Capital. “Just as Stripe and Plaid rewired payments and financial data pipes, Alpaca is redefining how global investing infrastructure works. They’re building the foundational layer that modern financial institutions will depend on for the next decade.”
Alpaca intends to deploy the proceeds to further strengthen its global investment infrastructure in support of sophisticated financial institutions and institutional trading clients worldwide. In parallel with expanding and enhancing its existing asset offerings, the company is establishing local market presence and securing regulatory licenses in key jurisdictions, advancing institutional-grade trading capabilities, bridging traditional and on-chain financial ecosystems, and reinforcing cybersecurity and platform resilience. These initiatives underscore Alpaca’s commitment to maintaining its leadership role in the ongoing modernization of global capital markets.
"Alpaca's infrastructure has been a core pillar to Sarwa's expansion since 2021. Our partnership allowed us to connect global markets and MENA investors. By integrating with their APIs, we've become a comprehensive investment powerhouse. Stocks, ETFs, crypto, bonds, and so much more. We became Alpaca's first partner to offer options trading globally," says Mark Chahwan, Co-Founder and Group CEO at Sarwa. "Our mission is to democratize investing for our community. We're proud to grow with a partner who shares our obsession with transparency and innovation."
2025 was a breakout year for Alpaca. The company dramatically expanded its product suite with multi-leg options, fully paid securities lending, fixed-income, and 24/5 U.S. stock trading. Alpaca introduced High-Yield Cash through an interest-bearing sweep program, and announced its Instant Tokenization Network at TOKEN2049 Singapore with launch partners including xStocks, Dinari, Ondo Finance, and The Solana Foundation. The company expanded its regulatory and clearing footprint by securing OCC and FICC memberships. Alpaca also became a Nasdaq Exchange Member and added support for embeddable Shariah-compliant investing solutions across savings accounts, options, and instant funding.
About Alpaca
Alpaca is a US-headquartered, self-clearing broker-dealer and a global leader in brokerage infrastructure APIs providing access to stocks, ETFs, options, fixed income, and crypto. Alpaca delivers embeddable finance solutions for tokenization, fully paid securities lending, high-yield cash, 24/5 trading, Shariah-compliant investing and more. Today, Alpaca powers over 9 million brokerage accounts across hundreds of fintechs and institutions in 40+ countries with over $321M in funding. For more information, visit: alpaca.markets
AlpacaDB, Inc., the parent company of Alpaca Securities LLC and Alpaca Crypto LLC, provides services and technology, including the brokerage infrastructure API supporting Alpaca’s financial services.
Securities brokerage services are provided by Alpaca Securities LLC, memberFINRA/SIPC, a wholly owned subsidiary of AlpacaDB, Inc.
Cryptocurrency services are provided by Alpaca Crypto LLC, a FinCEN-registered MSB (NMLS #2160858) and subsidiary of AlpacaDB, Inc.
Alpaca's Instant Tokenization Network is owned and developed by AlpacaDB, Inc. and Alpaca Crypto LLC. Neither entity is the issuer of, or involved in, the tokenization of any assets.
Alpaca does not make any representation that its products or services are Shariah-compliant.
This is not an offer, solicitation of an offer, or advice to buy or sell securities or cryptocurrencies or open a brokerage account or cryptocurrency account in any jurisdiction where Alpaca Securities or Alpaca Crypto, respectively, are not registered or licensed, as applicable.
All investments involve risk; for more information, please see ourDisclosure Library.
Alpaca Raises $150 Million at a $1.15B Valuation to Build the Global Standard for Brokerage Infrastructure
WASHINGTON (AP) — More than a year before an American military operation deposed Nicolás Maduro, a senior aide to President Donald Trump argued that the Venezuelan leader had been dispatching gang members into the United States.
"If you’re a dictator of a poor country with a high crime rate, wouldn’t you send your criminals to our open border?” Stephen Miller told reporters in the closing stretch of Trump's 2024 comeback campaign.
Miller now serves as the White House chief of staff for policy, where he plays a prominent role in promoting Trump's policy agenda. His bombastic style and zero-sum worldview have made him a lightning rod within the administration. Critics argue that Miller’s rhetoric about foreign nations and immigrants echoes racist and imperialist ideas that have undergirded military actions by the U.S. and other nations for centuries.
A joint statement from the governments of Spain and five Latin American countries following the Venezuela operation called for countries in the region to engage in “mutual respect, the peaceful settlement of disputes, and nonintervention,” while Sen. Bernie Sanders, I-Vt., called the administration's Venezuela policy “old-fashioned imperialism.”
“Advocating for policies that put American citizens first isn’t racist. Anyone who says so is either intentionally lying or just plain stupid,” said White House spokesperson Abigail Jackson.
Here's a look at how Miller laid the rhetorical groundwork for this month's attack on Venezuela and what his comments say about the administration's broader worldview.
Shortly after the U.S. operation that captured Maduro, Miller wrote on social media: “Not long after World War II the West dissolved its empires and colonies and began sending colossal sums of taxpayer-funded aid to these former territories (despite have already made them far wealthier and more successful). The West opened its borders, a kind of reverse colonization, providing welfare and thus remittances, while extending to these newcomers and their families not only the full franchise but preferential legal and financial treatment over the native citizenry. The neoliberal experiment, at its core, has been a long self-punishment of the places and peoples that built the modern world."
Two weeks before Maduro's arrest, Miller in December echoed arguments by Trump that the Venezuelan oil industry was stolen from American oil companies:
“American sweat, ingenuity and toil created the oil industry in Venezuela. Its tyrannical expropriation was the largest recorded theft of American wealth and property. These pillaged assets were then used to fund terrorism and flood our streets with killers, mercenaries and drugs,” Miller wrote on social media.
Miller in January claimed to reporters that U.S. military power had ensured compliance from the Caracas government.
“We have an oil embargo in Venezuela for them to do any kind of commerce. They need our permission. We have our massive fleet or armada still present there. This is an active and ongoing U.S. government military operation, and so, of course, we set the terms and conditions," Miller said.
He added: “Our conversations are that we are very much getting full, complete and total cooperation from the government of Venezuela, and as a result of that cooperation, the people of Venezuela are going to become richer than they ever have before. And of course, the United States is going to benefit from this massively in terms of economic, security and military cooperation, counter-narcotics, counterterrorism and every other dimension of our security."
During a wide-ranging January interview with CNN’s Jake Tapper, Miller repeatedly argued for the primacy of American power and criticized the international order the U.S. once led.
“You can talk all you want about international niceties and everything else. But we live in a world, in the real world, Jake, that is governed by strength, that is governed by force, that is governed by power. These are the iron laws of the world," said Miller.
Miller also dismissed concerns that Trump's vows to take Greenland from Denmark, a fellow member of the NATO military alliance, may trigger a military conflict with Europe.
“Nobody’s going to fight the United States militarily over the future of Greenland," said Miller.
In the same interview, Miller said it would be “absurd and preposterous” and “not even a serious question” to propose the administration support Venezuelan opposition leader María Corina Machado's bid to lead the country because the military would not back her.
Tapper then asked whether the South American country should hold elections.
Miller replied: “The United States is using its military to secure our interests unapologetically in our hemisphere. We’re a superpower, and under President Trump, we are going to conduct ourselves as a superpower. It is absurd that we would allow a nation in our own backyard to become the supplier of resources to our adversaries, but not to us, to hoard weapons from our adversaries, to be able to be positioned as an asset against the United States, rather than on behalf of the United States.”
The anchor pressed Miller on whether sovereign countries had the right to conduct their own affairs.
Miller explained the administration’s stance: “The Monroe Doctrine and the Trump Doctrine is all about securing the national interest of America. For years, we sent our soldiers to die in deserts in the Middle East to try to build them parliaments, to try to build them democracies, to try to give them more oil, try to give them more resources. The future of the free world, Jake, depends on America being able to assert ourselves and our interests without apology." He called for an end to "This whole period that happened after World War II, where the West began apologizing and groveling and engaging in these massive reparations schemes.”
He also defended the administration's operation and echoed his past claims that Maduro had sent criminals into the U.S.: “We’re not going to let tinpot communist dictators send rapists into our country, send drugs into our country, send weapons into our country."
Miller has returned to promoting the administration's stance on domestic issues like immigration and partisan politics.
On Tuesday, following nationwide protests after an Immigration and Customs Enforcement officer shot and killed a woman in Minnesota, Miller wrote on social media: “Americans voting overwhelmingly for mass deportation. Congress passed laws requiring it and then passed new legislation to fully fund it. The response of the Democrat Party and its activists has been to support and orchestrate violent resistance against federal law enforcement.”
He later added in a separate post, “In case it isn’t clear by now, if Democrats won they would have made every city into Mogadishu or Kabul or Port-au-Prince."
FILE - United States Homeland Security Advisor Stephen Miller reacts on the sidelines of the ASEAN Summit in Kuala Lumpur, Malaysia, Sunday, Oct. 26, 2025. (AP Photo/Mark Schiefelbein), File)
