+67%

est. 2Y upside i

FinTechSeries D+

API-first stock and crypto brokerage platform

Rank

#47

Sector

Fintech / Brokerage Infrastructure

Est. Liquidity

~4Y

Data Quality

Data: Medium

Credible Series D fintech with real revenue, defensible self-clearing moat, and top-tier investors. $321M preferences mean need $2B+ exit for meaningful upside.

Last updated: March 21, 2026

Bull (25%)+400%

Becomes dominant global brokerage-as-a-service. ARR to $300M+ by 2028, IPO at 15-20x.

Base (50%)+185%

Steady 40-50% growth to $200-250M ARR, IPO at 8-10x.

Bear (25%)-60%

Interactive Brokers/Fidelity launch APIs; growth stalls.

Est. time to liquidity~3.5 years

Preference Stack Risk

moderate

Funding Intensity

28%

$321M against $1.15B (27.9%).

Dilution Risk

moderate

Series D may be last private round.

Secondary Liquidity

limited

Some interest on Forge but no formal tender.

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

    “Liquidation preference structure?”

  • 2

    “Path to liquidity — IPO timeline?”

  • 3

    “Defense against IB API offerings?”

Community

Valuation Sentiment

Our model estimates +67% 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.