Alpaca Raises $435 Million, Two Thirds Of It Debt
Alpaca says the funds will build agent-first brokerage infrastructure for tokenized markets and AI-native financial services.
- Peak XV Partners led the $135 million equity tranche of the round.
- Kraken's parent Payward and Bank of Montreal supplied the $300 million debt piece.
- The raise follows a $150 million Series D closed just six months earlier, in January.
Why it matters: More debt than equity in a raise reveals who is really underwriting the bet.
Alpaca (official blog) ↗ · Jul 16, 20267/16/26 · ✓ Checked✓ Check