Congratulations to portfolio company Alpaca on raising their Series B!
The Series B round adds $50 million of capital, fresh off of a late-2019 $6 million seed round, and a late-2020 $10 million Series A.
The company offers an API that does the dirty work; handling banking, security, and regulatory complexity. This allows startups to quickly build brokerage apps on top for free.
"In simple terms, using Alpaca... any company can build a Robinhood from the ground up." says Howard Lindzon, Founder and Managing Partner with Social Leverage.
In a recent interview with TechCrunch, Alpaca CEO Yoshi Yokokawa said the number of brokerage accounts supported has risen some 1,500 percent to more than 100,000 this year. He also expects to bring on 100 partners for Alpaca's equity trading tech by the end of this year.
Big plans lay ahead as Alpaca moves into the cryptocurrency market. A partnership with Plaid will make money transfers easier for investors in the crypto trading space.
To celebrate, the company is giving away $50k. 100 winners will win $500. To enter, you'll need to 1) join the waitlist, 2) Refer others* and solve the coding challenge to improve your chances of winning.
*terms and conditions apply
Sign up for our weekly newsletter. Never miss an update.
Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. Affiliate Disclosure: Social Leverage Group, LLC ("SLG"), Social Leverage Capital Fund I, LP ("SLC"), Social Leverage Capital Fund II, LP ("SLCII") and Social Leverage Capital Fund III, LP ("SLCIII") are all distinct entities from Social Leverage, LLC ("SL"). Social Leverage is not a registered investment advisor. SLC, SLCII, SLCIII, SLG and SL have used the logo and branding of Social Leverage with the permission of Social Leverage Group, LLC.