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Financial Technology Infrastructure Alpaca Completes $150 Million Financing Round, Led by Drive Capital
BlockBeats News, January 14, Financial technology 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 financing, Alpaca also secured a $40 million credit line.
The software created by Alpaca enables companies to more easily offer stock, ETF, cryptocurrency, and other financial instrument trading services. The company's co-founder and CEO, Yoshi Yokokawa, stated that as the boundaries between traditional finance and the crypto space blur and platforms integrate services, Alpaca's annual recurring revenue has exceeded $100 million. (Fortune)
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