US-based self-clearing broker-dealer Alpaca has unveiled plans to acquire WealthKernel, a wealthtech company focused on digital investment infrastructure and tax-advantaged products.
This strategic acquisition aims to enhance Alpaca’s capabilities in the UK and European Union (EU) markets, aligning with its mission to make financial services accessible worldwide.
The acquisition is pending regulatory approval from the UK Financial Conduct Authority and Spain’s Comisión Nacional del Mercado de Valores.
WealthKernel focuses on delivering investment and savings infrastructure for regulated businesses, emphasising modern wealth products and scalable digital investment solutions.
Its expertise in wealth management, including individual savings accounts (ISAs) and self-invested personal pensions (SIPPs), will strengthen Alpaca’s existing trading infrastructure.
By integrating WealthKernel’s regulatory licences, Alpaca will operate as a fully authorised broker-dealer in these regions, further supporting its partners.
The acquisition combines a team with knowledge in brokerage operations, compliance, and financial technology, according to the company/
This move is expected to enhance Alpaca’s position as a comprehensive provider of brokerage infrastructure, enabling banks, brokers, and fintech companies to launch trading, custody, and wealth management products in compliance with regulations.
WealthKernel CEO Karan Shanmugarajah said: “Joining forces with Alpaca will allow us to scale our mission faster, while maintaining the high standards our clients expect.”
Alpaca’s newly appointed chief financial officer, Nadia Asoyan, who has held senior roles at Robinhood and Square, will bring her fintech expertise to the merged entity.
The organisation will maintain its global presence with operations in North America, Europe, and Asia.
Earlier this year, Alpaca formed a strategic partnership with Kraken, allowing the cryptocurrency exchange to offer commission-free US equities trading to its American clients.
Alpaca CEO Yoshi Yokokawa said: “The acquisition of WealthKernel is a major step for Alpaca in becoming a truly global brokerage infrastructure.
“WealthKernel has gained a highly regarded reputation in the UK and EU through working closely with a number of financial institutions.”
Alpaca, headquartered in the US, provides infrastructure for trading stocks, ETFs, options, cryptocurrencies, and fixed income, having secured over $170m in funding from notable investors including Portage Ventures, Spark Capital, and Y Combinator.
"Alpaca to acquire wealthtech company WealthKernel" was originally created and published by Private Banker International, a GlobalData owned brand.
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