Alpaca, a fintech startup which builds AI and database technology for financial trading, has announced the closing of a $1.75 million venture round.
Round participants include D4V, a joint-venture fund by IDEO and Genuine Startups, Monex Ventures of Monex Group, the Japanese brokerage which was recently in the news after reporting its December trading volumes, MUCAP of Mitsubishi UFJ Financial Group, Eric Di Benedetto, a leading AI and fintech angel investor, and a number of other existing and angel investors.
The funds will be used to accelerate the development of AlpacaScan, a platform that helps casual traders discover trade ideas.
Forex in Russia: 100 Steps BackGo to article >>
Since Alpaca’s debut of AlpacaAlgo in March 2016, the company’s AI and deep learning technology has caught the attention of industry experts and has been featured in a number of publications including CBInsights’ ’41 Startups Bringing AI To Fintech’, Forbes Japan, Bloomberg and The Nikkei.
AlpacaAlgo executed $100 million in real-money trading volume in less than two months of live production in last December.
Yoshi Yokokawa, Alpaca’s co-founder and CEO, said: “We see an opportunity to offer a true value to casual stock traders like ourselves by providing trading contents in an easily digestible way, backed by real technology and science. We are excited to have received a huge amount of support from successful traders and technologists in the industry throughout this financing round.”
Alpaca made its debut with AlpacaAlgo, a web SaaS that enables traders to automate trade ideas with deep-learning, in March 2016 and now has more than 25,000 user-built trading algorithms.
AlpacaScan mobile is scheduled to be available to the public as a beta by this spring.