TechFlow news, January 14 — According to Fortune, fintech infrastructure provider Alpaca has raised $150 million in its Series D round, reaching a valuation of $1.15 billion. The round was led by Drive Capital, with participation from Citadel Securities, cryptocurrency exchange Kraken, and BNP Paribas' venture capital arm. As part of the financing, Alpaca also secured a $40 million credit facility.
Alpaca's software enables companies to easily offer trading services for stocks, ETFs, cryptocurrencies, and other financial instruments. The company's co-founder and CEO, Yoshi Yokokawa, said that as the lines between traditional finance and crypto continue to blur, platforms are integrating their services, and Alpaca’s annual recurring revenue has surpassed $100 million.
