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The San Mateo, Calif.-based firm’s new raise includes debt from the Canadian bank and Kraken parent Payward, as well as a US$135-million equity round led by Bangalore-based Peak XV. The startup will use the technology to further develop its products for financial services firms. (The Logic)
Talking point: Founded in 2017, Alpaca sells software that powers clients’ trading services for stocks, options, fixed income assets and crypto. The firm’s technology links brokers in Asia to U.S. markets. Alpaca’s other backers include Portage and Diagram, venture divisions of the Desmarais family’s alternative asset manager Sagard. Both units participated in Alpaca’s US$150-million Series D round in January.
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