Companies · Crypto / Web3

Alpaca, Inc.Winter 2019Active

OMAHA · CA, USA; Remote · Crypto / Web3 · refined from filed group “Other · founded 2018 · https://alpaca.markets/

Diligence memoA one-page analyst read on Alpaca, Inc. — recommendation, valuation, rhythm, risks.
$3.7M
Total raised · real
3
Rounds
1.1×
Latest step-up
Top 30%
Sector rank · raised
Seed
Latest stage · inferred · Wed Jan 28 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

Alpaca, Inc. looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the crypto/web3 sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.26× the median modeled value of Seed Crypto / Web3 companies in 2025–2027 (7 peers) — value vs value, same stage and era.
Active
  • Last raise 5 mo ago; this sector typically re-raises about every 7 months.
  • Raising on or ahead of the sector's normal rhythm.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Crypto / Web3

Alpaca, Inc. is one of 196 Crypto / Web3 companies tracked from OMAHA, CA, USA; Remote, on record since 2018. By capital raised it ranks in the upper tier (ahead of 71% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

API-first stock and crypto brokerage platform

Alpaca is an API infrastructure and licensed financial services company that allows developers and businesses to offer stock and crypto investing to their end-customers. We work with more than 100 companies across the globe to enable their investing products, and our mission is to provide financial services to everyone on the planet. Alpaca’s globally distributed team consists of developers, traders, and brokerage business specialists and backed by a group of well-capitalized investors including Portage Ventures, Spark Capital, Tribe Capital, Unbound, Social Leverage, Horizons Ventures, Y Combinator as well as highly experienced industry angel investors and founders. We are also very tech-enthusiastic with notable track records in open-source and startup communities.

APIDeveloper ToolsFintechInfrastructureInvestingcrypto/web3
Find Alpaca, Inc. online

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
4
Investors (latest)
2021
Year incorporated
2026-01-28
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$13M$25M$38M$50MSeed · 2022-05-06 Raised $1.5M (real) Modeled valuation $23M (est)$1.5M$23MSeed2022Seed · 2024-06-04 Raised $1.0M (real) Modeled valuation $5.0M (est)$1.0M$5.0MSeed2024Seed · 2026-01-28 Raised $1.1M (real) Modeled valuation $2.4M (est)$1.1M$2.4MSeed2026+$1.0M+$1.1MCumulative $3.7M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$1.5M · 2022
Seed extension$1.0M · 2024
Seed extension$1.1M · 2026

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$2.4M
Base estimate est.
$849K
Conservative case
$4.1M
Upside case
$5.8M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the crypto/web3 sector profile. Directional, not a quoted figure.

Seed · modeled $22.9M · 2022-05-062022Seed · modeled $5.0M · 2024-06-04Seed · modeled $2.4M · 2026-01-282026
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
33%
Survival probability
15% low · 51% high
1.71×/yr
Annual markup
2.24×/yr upside case
0.4 yr
Elapsed time used
0.4 yr actual, capped for stale marks
crypto/web3
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
22 mo
Avg between rounds
$980K/yr
Capital velocity
4.2 yr
On record since
2022
First round
3
Rounds on file
How it compares to the market

Benchmarked against 196 companies in Crypto / Web3. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 1.0× above median
This company$3.7M
Sector median$3.5M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.6× of median
This company$1.1M
Sector median$2.0M
Modeled value — vs sector median (estimate, all stages) 0.0× of median
This company$2.4M
Sector median$53.0M

Raised more than 71% of sector peers (real $). Modeled value above 42% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #7 of 7.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0MCapital raised (log)Ubleu CRYPTO GROUP LTD · Seed Raised $3.0M · modeled $9.6M (est)Ohiosa CRYPTO GROUP LTD · Seed Raised $3.0M · modeled $9.5M (est)Tocexa Crypto Exchange Ltd · Seed Raised $3.0M · modeled $9.2M (est)Idcxs Crypto Group Ltd · Seed Raised $3.0M · modeled $9.2M (est)Enzi Mobility · Seed Raised $3.5M · modeled $8.1M (est)SMT Web3, Inc. · Seed Raised $2.0M · modeled $5.1M (est)Alpaca, Inc. (this company) Raised $3.7M · modeled $2.4M (est)Alpaca, Inc.
CompanyStageRaised · realValue · estvs peer med.
Ubleu CRYPTO GROUP LTDSeed$3.0M$9.6M1.05×
Ohiosa CRYPTO GROUP LTDSeed$3.0M$9.5M1.03×
Tocexa Crypto Exchange LtdSeed$3.0M$9.2M1.00×
Idcxs Crypto Group LtdSeed$3.0M$9.2M1.00×
Enzi MobilitySeed$3.5M$8.1M0.88×
SMT Web3, Inc.Seed$2.0M$5.1M0.55×
Alpaca, Inc. this companySeed$3.7M$2.4M0.26×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$1.5M2022-05-06$7.5M$22.9M90%
Seed$1.0M2024-06-04$5.0M$5.0M90%
Seed$1.1M2026-01-28$5.8M$2.4M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$1.5M2022-05-06
    • First recorded raise — entered as Seed.
    • 16 investors on this round.
  2. Seed$1.0M2024-06-04
    • Raised again after 25 mo — slower than the ~7 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 18 investors on this round.
  3. Seed$1.1M2026-01-28
    • Raised again after 20 mo — slower than the ~7 mo sector norm.
    • Round roughly the size of the prior one.
    • 4 investors on this round.
Intelligence
2027 ~Q4
Modeled next raise · ~22mo cadence
$1.3M
Modeled next size est.range $1.1M$2.1M
1.1×
Last step-up
$980K/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Ben Jackson1 other2026-01
Karen Borchert1 other2022-05
Eddie Branchaud2026-01
Registry & provenance

Alpaca, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1929936
SEC CIK
2021
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Kyber Crypto Holdings, LLCCrypto / Web3Seed$3.6M$50.0Msame sector · same stage
NFT Genius Inc.Crypto / Web3Seed$3.6M$93.4Msame sector · same stage
Flipside Crypto, LlcCrypto / Web3Seed$3.6M$146.1Msame sector · same stage
Enzi MobilityCrypto / Web3Seed$3.5M$8.1Msame sector · same stage
Block Crypto, Inc.Crypto / Web3Seed$3.5M$60.9Msame sector · same stage
RevixCrypto / Web3Seed$4.0M$107.7Msame sector · same stage
Quantstamp, Inc.Crypto / Web3Seed$3.3M$82.3Msame sector · same stage
Graph Blockchain IncCrypto / Web3Seed$3.2M$122.4Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Blockchain Assets AI, Inc.Crypto / Web3Series A$335.0M76%
Blockdaemon Inc.
Trusted by 400+ institutions to launch, secure, and scale digital asset products across custody, tokenization, staking, payments, and settlement.
Crypto / Web3Series D+$666.2M76%
Payfura
Global payment gateway to buy/sell crypto
Crypto / Web375%
Digital Asset Capital, Inc.Crypto / Web3Pre-Seed$43.5M75%
Helicarrier (prev Buycoins)
Cryptocurrency infrastructure for Africa.
74%
Partna
Unlock African payments
Crypto / Web374%
Alguna
AI-Native CPQ & Billing for Modern Pricing Models
Fintech74%
Infina
Leading wealth management and investing platform in Vietnam
Crypto / Web374%
Frequently asked
How much funding has Alpaca, Inc. raised?
Alpaca, Inc. has raised approximately $3.7M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Alpaca, Inc.'s estimated valuation?
Provath's modeled valuation for Alpaca, Inc. is approximately $2.4M (modeled range $849K–$4.1M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Alpaca, Inc. at?
Alpaca, Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Wed Jan 28.
What does Alpaca, Inc. do and where is it based?
Alpaca, Inc. operates in the Crypto / Web3 sector, based in OMAHA, CA, USA; Remote. API-first stock and crypto brokerage platform
Explore related

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