+146%

est. 2Y upside i

FinTechSeries D+

API-first stock and crypto brokerage platform

Rank

#135

Sector

Fintech

Est. Liquidity

~3Y

Data Quality

Data: Medium

Alpaca offers a compelling equity opportunity with strong upside potential from its high growth and competitive moat.

Last updated: July 3, 2026

Bull (30%)+200%

Maintains 12x multiple on $392M revenue, driven by IPO window and category leadership. Exit value $4.7B, net of 20pp dilution yields 200% upside.

Base (50%)+153%

Multiple converges to 8x on $392M revenue, exit value $3.1B. After 20pp dilution, common stock upside 153%.

Bear (20%)+50%

Multiple compresses to 5x on $392M revenue, exit value $1.96B. After 20pp dilution, upside 50%; preference stack not triggered.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

Funding Intensity

28%

Total preferred liquidation preference of $320M represents 27.8% of current valuation.

Dilution Risk

moderate

Given recent Series D, near-term dilution risk is low, but future rounds likely as company scales.

Secondary Liquidity

none

No secondary market activity reported.

Other — 67 roles

View all 67 open roles at Alpaca →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Alpaca's data — designed to show you've done your homework.

  • 1

    “How will Alpaca differentiate from DriveWealth and Apex as they expand API offerings?”

  • 2

    “What is the path to profitability given capital requirements for self-clearing?”

  • 3

    “Given the high growth, how does Alpaca plan to manage dilution and ensure employee equity value?”

Community

Valuation Sentiment

Our model estimates +146% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.