"Alpaca, which builds software that lets companies more easily offer stocks, ETFs, and other financial instruments, raised $150 million in a Series D fundraise that valued the startup at $1.15 billion. Columbus, Ohio-based venture firm Drive Capital led the round, while market-making giant Citadel Securities, the crypto exchange Kraken, and the venture arm of the bank BNP Paribas also contributed. As part of the financing, Alpaca secured a $40 million line of credit."
"and the Coinbases and Robinhoods of the world begin to more closely resemble each other. "Crypto players have to combat against fiat players coming into the crypto. Crypto players have to combine with TradFi as well. So, it's merging into one," Alpaca cofounder and CEO Yoshi Yokokawa told Fortune. "Everyone who's missing some components of the final shape of the application, they have to figure out how to add that very quickly.""
Alpaca raised $150 million in a Series D round at a $1.15 billion valuation and secured a $40 million line of credit. The company provides brokerage infrastructure software that enables firms to offer stocks, ETFs, and other financial instruments. Drive Capital led the financing, with participation from Citadel Securities, Kraken, and BNP Paribas’ venture arm. Market activity shows a blurring between crypto platforms and traditional brokerages, driving demand for integrated trading components. Founders Yoshi Yokokawa and Hitoshi Harada have developed trading technology for over a decade and launched Alpaca in 2015.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]