Brokerage platform Alpaca plots Asian expansion with SBI partnership
Alpaca, a US brokerage platform for stock and crypto trading, has entered into a strategic partnership with Japan’s SBI Group in a bid to extend its reach into Asia.
Alpaca enters strategic partnership with SBI Group
SBI Group claims to be the second largest brokerage firm in Japan with more than 400 billion yen in assets under management for venture capital and private equity investments.
As part of the strategic partnership, SBI Group has also made a $15 million investment in Alpaca and agreed to make commitments that will help Alpaca grow through business development efforts and the introduction of new products.
Alpaca recently acquired a broker-dealer licence from the Japan Financial Services Agency (FSA), through which it can now provide brokerage infrastructure to financial institutions and start-ups in the country, allowing them to offer US stock investing services to end consumers.
“This partnership will significantly accelerate our mission of opening financial services to everyone on the planet,” comments Yoshi Yokokawa, co-founder and CEO of Alpaca.
“SBI’s strategic partner capital enables us to significantly increase our presence in the Asian region, accelerate serving enterprise financial institutions, and launch products and services optimised for local demands.”
Founded in 2015 and headquartered in San Mateo, California, Alpaca claims its API brokerage platform supports over 150 businesses across 30 countries, including Turkey, Saudi Arabia, Indonesia, Thailand and India.
It last raised $50 million in a Series B funding round in 2021, and has secured a total of more than $120 million in funding from global investors to date.
