Opera Tech Ventures backs Alpaca again

Opera Tech Ventures , the venture capital arm of BNP Paribas, has participated in a new $135 million funding round for brokerage infrastructure provider Alpaca.

Peak XV led the round, with participation from Elefund, Opera Tech Ventures, Unbound and other investors. Alpaca also secured $300 million in debt financing primarily from Payward, the parent company of Kraken, and BMO, bringing the new financing package to $435 million.

The funding follows Alpaca’s $150 million Series D in January, which valued the company at $1.15 billion. Opera Tech Ventures also participated in that round.

Founded in 2015, Alpaca provides API-based brokerage infrastructure that allows fintechs, banks, broker-dealers, wealth managers and crypto platforms to offer access to traditional and tokenized assets.

The company plans to use the funding to expand its brokerage and prime brokerage infrastructure. Alpaca said it has doubled revenue annually for three consecutive years and now supports more than $1.5 billion in underlying stocks backing tokenized equities.