Alpaca raises $52M Series C to take its API brokerage platform to new markets

For all the turmoil these days, the U.S. stock market remains extremely attractive to investors around the world, simply because of its sheer size and liquidity. But it’s still quite difficult for investors in other parts of the globe to trade stocks on U.S. exchanges. A San Mateo-based startup called Alpaca has quietly capitalized on that opportunity by offering an API to financial services firms that let them sell trading services to their consumer user bases. Today, Alpaca claims it serves more than 5 million brokerage accounts, and has more than 200 financial clients in 40 countries. To build on that traction, Alpaca said on Wednesday it has raised $52 million in a Series C funding round to expand into more foreign markets, including the Middle East, Europe and Asia. Investors in the round include new and returning backers like Derayah Financial, 850 Management, National Investments Company Kuwait, Unbound and Portage Ventures. The San Mateo-based startup just opened a new offic ... Read full article.