Alpaca, the San Mateo-based API-first brokerage startup, is preparing to offer trade financing services to hedge funds, positioning itself for entry into prime brokerage. In July 2026, the company raised $135 million in an equity round as part of a larger $435 million funding package earmarked for its API-first prime brokerage infrastructure. Alpaca, a FINRA-regulated self-clearing broker-dealer, already counts hedge funds and proprietary trading firms among its users. The firm has also partnered with Bybit and Kraken to enable trading in US stocks and ETFs on digital asset exchanges.
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