Company
Date Published
Author
Crest Saechao
Word count
827
Language
English
Hacker News points
None

Summary

Tribe Capital Leads Round As Alpaca Reports 1500 Percent Growth YTD With Over 100,000 Accounts, And Expanded Partnerships in Europe, SE Asia, Africa, Latin Americas` Alpaca, a commission-free stock brokerage platform, has closed a $50 million Series B funding round led by Tribe Capital, marking its 1500 percent year-to-date growth in brokerage accounts. The company aims to democratize investing and expand globally with fintech partners across Europe, Southeast Asia, Africa, North, and Latin America. With the fundraising round, Alpaca plans to launch a cryptocurrency product, expanding asset classes from equities to cryptocurrencies, and partnering with global crypto leaders Genesis, ErisX, and Silvergate. The company's Broker API has reported soaring growth, enabling fintech companies worldwide to build commission-free stock trading apps. Alpaca has established partnerships across multiple regions, including Europe, South East Asia, Africa, North, and Latin America, with notable partners like Gottrade, Midas, Investore, Chaka, and Xantos Labs. The company has raised a total of $72 million from investors and is backed by top industry investors such as Spark Capital, Portage Ventures, Social Leverage, Tribe Capital, Horizons Ventures, Eldridge, Positive Sum, Elefund, and Y Combinator.