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Fintech infrastructure provider Alpaca raises $150 million in funding led by Drive Capital
Svmuu News: Fintech infrastructure provider Alpaca announced the completion of a $150 million Series D funding round, valuing the company at $1.15 billion. The round was led by Drive Capital, with participation from Citadel Securities, cryptocurrency exchange Kraken, and the venture capital arm of BNP Paribas. As part of the funding, Alpaca also secured a $40 million credit facility. The software developed by Alpaca enables companies to more easily offer trading services for stocks, ETFs, cryptocurrencies, and other financial instruments. Yoshi Yokokawa, the company’s co-founder and CEO, stated that as the lines between traditional finance and the crypto space blur and platforms integrate their services, Alpaca’s annual recurring revenue has surpassed $100 million. (Fortune)
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