Briefing

Toronto’s Portag3 leads $10-million Series A round in stock-trading API startup Alpaca

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This marks a repeat investment for Portag3 in the San Francisco-based fintech, whose stock-trading API allows other startups to build their own banking and brokerage apps. Other investors include Spark Capital, Social Leverage, Abstract Ventures and Fathom Capital. Launched in 2018, the company has reportedly raised about US$22 million so far. (TechCrunch)

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Talking point: Essentially, Alpaca’s aim is to enable anyone to easily create their own Robinhood-like stock-trading app, the US$7.6-billion unicorn that nevertheless only operates in the U.S. Alpaca had over US$1 billion in transactions within a year of its launch.