The Power Corp.-linked fintech fund, an existing investor in Alpaca, participated in the round led by Tribe Capital. It also included new investors Horizons Ventures, Eldridge and Positive Sum. (The Logic)
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The Power Corp.-linked fintech fund, an existing investor in Alpaca, participated in the round led by Tribe Capital. It also included new investors Horizons Ventures, Eldridge and Positive Sum. (The Logic)
Talking point: The San Mateo, Calif.-based company’s main product, an API that allows fintech apps to offer stock trading for their customers, has seen surging demand amid the retail-investing boom. Brokerage accounts grew 1,500 per cent year to date as Alpaca expanded across the globe. In a statement, founder and CEO Yoshi Yokokawa, said the product allows global fintechs to give their users access to U.S. stock markets—a value proposition that could be attractive to many Canadian fintechs, including some of Portage’s portfolio companies. The company also plans to launch a crypto product, as Canadian trading platforms, including Wealthsimple and Coinsquare, look to offer both cryptocurrency and stock trading to their clients.
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