US-headquartered self-clearing broker-dealer Alpaca has announced it intends to acquire India-based Zincmoney IFSC Private Limited.
The proposed acquisition would give Alpaca access to Zincmoney’s India-focused brokerage licences and local infrastructure, providing an operational foothold in India and supporting the company’s plans to expand internationally.
Completion of the transaction is subject to regulatory approval from the IFSCA.
Zincmoney is regulated as a broker-dealer by the International Financial Services Centres Authority (IFSCA) and based in Gujarat International Finance Tec-City (GIFT City).
Alpaca specialises in providing brokerage infrastructure through application programming interfaces (APIs). It has become one of the major connectivity providers for neobrokers and other financial institutions in recent years.
The company said the deal is aimed at strengthening its ability to offer brokerage and investing services in fast-growing markets while maintaining compliance with local regulations.
“The acquisition of Zincmoney is critical to building truly global brokerage infrastructure,” said Yoshi Yokokawa, co-founder and chief executive officer of Alpaca.
He added that Zincmoney’s experience working with Indian financial institutions and fintech companies would support Alpaca’s plans to operate in India as a regulated broker-dealer.
Zincmoney IFSC offers access to Indian and international investment products, including international securities, products listed in the International Financial Services Centre, and portfolio solutions designed for overseas education planning and restricted stock unit (RSU) management.
Under the proposed transaction, these capabilities would be combined with Alpaca’s multi-asset brokerage infrastructure, which includes US equities and options delivered through APIs that allow partners to embed trading, custody and wealth products.
The intended acquisition also includes Zincmoney’s payment service provider, which facilitates customer payments and transfers within India.
“Joining Alpaca allows us to accelerate what we set out to build – making global investing and IFSC products accessible to Indian households through the partners they already trust,” said Mayuresh Kini of Zincmoney IFSC.
Following regulatory approvals, Kini is expected to become chief executive officer of Alpaca India.
The companies said the combination would bring together teams with experience in brokerage operations, regulatory compliance and embedded finance, pairing Alpaca’s global technology infrastructure with Zincmoney’s knowledge of India’s regulatory and distribution landscape.
Alpaca said the transaction would further position it as a full-stack global brokerage infrastructure provider serving brokers, banks and fintech firms seeking to launch investment and wealth products.
Alpaca is headquartered in the United States and provides access to stocks, exchange-traded funds, options, fixed income and cryptocurrencies. The company supports more than 9 million brokerage accounts across over 40 countries.
Zincmoney IFSC Private Limited is a wholly owned subsidiary of Zinc Money Pte. Ltd., Singapore, part of the broader Zinc group, which develops AI-based systems for financial planning and other decision-making applications.
The proposed acquisition follows Alpaca’s purchase of British company WealthKernel in July, which provides a similar set of services to the US-based firm within the UK.
