Alpaca secures $435M for AI and tokenized trading growth

Alpaca raised $435M to expand its AI-driven, tokenized stock and crypto trading infrastructure, supporting automated trading across both traditional and digital markets.

Alpaca, a leading brokerage infrastructure provider, has secured $135 million in equity funding led by Peak XV, along with up to $300 million in debt financing from Payward and BMO. This brings the company’s total recent funding to $435 million. Alpaca has previously cleared or custodied about 94% of tokenized U.S. equities and manages over $1.5 billion in underlying stocks. The new capital will be used to expand its infrastructure for tokenized stocks and onchain brokerage services. The company is focusing on agent-first and API-first prime brokerage solutions, aiming to support the rise of AI agents executing trades across stocks, crypto, and tokenized assets. Alpaca’s growth highlights the shift toward automated, AI-driven trading and broader adoption of tokenized equities.