Funding round
Alpaca Series B
Alpaca, which works in brokerage infrastructure API development in San Mateo, raised $50M in a Series B round announced on 30 Aug 2021, led by Tribe Capital. 8 firms took part. It is Alpaca's second venture round on record; the one before was a Series A in Oct 2018.
$50M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Alpaca did not disclose a valuation in this round. It came 34 months after Alpaca's Series A. It is 13% of the $390M Alpaca has raised in the venture rounds on record. Alpaca raised again 44 months later: a Series C round of $52M in Apr 2025. Its next priced round, a Series D in Jan 2026, valued it at $1.15B.
Alpaca's funding rounds
Alpaca has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 24 Oct 2018 $3.0M
- Series B this round 30 Aug 2021, led by Tribe Capital $50M
- Series C 23 Apr 2025, led by Deraya Financial, 850 Management and National Investments Company (NIC) $52M
- Debt not a venture round 14 Jan 2026 $40M
- Series D 14 Jan 2026, led by Drive Capital $150M$1.15B post-money
- Growth 16 Jul 2026, led by Peak XV $135M
Investors
Who put money in
Tribe Capital led the round with 7 other firms.
Lead investor
- backs 69 venture-backed companies new investor
Also in the round
- backs 97 venture-backed companies new investor
- backs 13 venture-backed companies new investor
- Positive Sum new investor
- backs 64 venture-backed companies new investor
- Spark Capital backs 234 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- Eldridge
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
13 Series B rounds in Financial Services within a year either side disclosed an amount; the median was $50M, and this round was close to the median. The closest in time, other companies' Series B rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Neo Financial Financial Services | 15 Sep 2021 | $64M | not disclosed | Valar Ventures |
| Financial Services | 30 Jun 2021 | $30M | not disclosed | Portage Ventures |
| Bitpanda Financial Services | 16 Mar 2021 | $170M | $1.20B | Valar Ventures |
| Financial Services | 27 Jan 2022 | $130M | $1.00B | SoftBank Vision Fund |
| Financial Services | 11 Jan 2022 | $82M | not disclosed | Tiger Global |
| Financial Services | 23 Mar 2021 | $69M | $366M | Left Lane Capital |
| Stori Financial Services | 1 Mar 2021 | $33M | not disclosed | Lightspeed Venture Partners |
| FalconX Financial Services | 1 Jan 2021 | $50M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Alpaca raise in its Series B round?
Alpaca raised $50M in its Series B round, announced in Aug 2021.
Who led Alpaca's Series B round?
Tribe Capital led it, with Horizons Ventures, Eldridge Industries, Positive Sum, Portage Ventures and Spark Capital and 2 more.
What was Alpaca's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Financial Services?
13 Series B rounds in Financial Services within a year either side disclosed an amount; the median was $50M, and this round was close to the median.
Did Alpaca raise again after this round?
Yes: a Series C round in Apr 2025 of $52M.