Albaka raises the C 52 million dollar series to take API to new markets
Despite all the turmoil these days, the US stock market in the United States is still very attractive to investors all over the world, simply due to its huge size and liquidity. But it is still very difficult for investors in other parts of the world shares trading on American stock exchanges. An young company based in San Mateo, called Alpaca, quietly benefited from this opportunity by providing an application programming interface to financial services companies that allow them to sell trading services to the rules of consumer users.
Today, Albaka claims to serve more than 5 million mediation accounts, and has more than 200 financial customers in 40 countries. To build on this traction, Albaka said on Wednesday that it raised $ 52 million in a series of financing C to expand to more foreign markets, including the Middle East, Europe and Asia.
Investors in the tour include new and returning supporters such as Derayah Financial, 850 Management, National Investments Company Kuwait, Unbound and Portage Ventures.
Techcrunch has already said in the United States, Japan, Bahamas, co -founder, CEO Yuchua Yukawa, such as the United States, Japan, the Bahamas, co -founder and CEO of Techcrunch.
“The (latter) donations for us is very important because this is really a catalyst to go to global infrastructure, instead of the company and the established platform of the United States only.”
Albaka will also use the revenues to develop new products, add non -American products such as European and Asian stocks, and to support trading around the clock throughout the week.
Series C reaching a total company’s total financing of $ 170 million.
Founded by Yokokawa, a former investment banker in the United States and Japan, and Hitoshi Harada (CPO), Albaka began selling programs that financial and technical services companies can use in delivering and trading energy for investment groups.
“We first needed to create a global infrastructure (in 2018) that would enable people outside the United States to create similar platforms for Robinhood or WealteFront that corresponds to their local regulations and contexts,” Yokokawa told Techcrunch. “But someone must do a difficult and boring job to ensure that the organization and compliance are correct and are reported in the United States because it (in the end) money and securities, as you know, flow to the United States if you want to reach American products. This is what we do.”
The company has since expanded its offers to include stocks, traded investment funds, options, fixed income and high -yield products in US dollars to the accounts of the Irish Republican Army. Alpaca recently cooperated with Kraken to allow Crypto Exchange users to trade American stocks and investment funds circulated in some states.
The series C comes about 18 months after the Albaka insurance to extend the B series in October 2023. Since then, Yokokawa said that the revenues of the emerging and the assets subject to detention have multiplied three times, and the trading volume has doubled. The CEO said that he has also become a fully self -transcendent medium with DTCC membership, allowing it to deal with all clearing and commercial settlement at home, including risk management and compliance.
Yokokawa sees interactive mediators as his closest competitor in terms of his international presence and technological capabilities. However, he feels that the main difference is that interactive brokers was founded in 1978, which led to the technology that was developed based on its ancient systems.
He said: “When new banks want to improve their products for their customers, they prefer to work with contemporary partners because their customers want modern solutions. This is how we currently win the market share on them. We are growing faster, but I see them competitors in this sense.”
Albaka currently employs about 200 people, most of whom work remotely from different locations around the world.