Waldo is a treasury cash management platform for startups, SMBs, and enterprises that allows entities to generate yield and manage risk on their company’s cash without having to switch banks. The offering is powered in partnership with Alpaca, a global leader in brokerage infrastructure API, providing access to options, stocks, ETFs, fixed income, and crypto.
According to the 2025 AFP Liquidity Survey, 30% companies are considering adjusting their cash policies to prioritize safety, yield and liquidity1 with the majority of deposits still held in conservative bank products exposing them to depository risk and limiting their ability to generate returns on idle cash.
Waldo aims to change this by providing a modern treasury cash management platform that allows entities to generate yield on company cash without minimums or having to switch banks. With Waldo, firms can access a broader range of assets and implement risk management strategies designed to generate yield that is aligned with their risk tolerance and liquidity needs.
“Current bank treasury products often charge high fees to invest company cash into a single mutual fund, while offering little control or help” says Ryan Belanger-Saleh, Co-Founder of Waldo. “With Waldo, companies can select an investment strategy across thousands of assets, including US and international treasuries, investment grade and non-investment grade fixed income, equities, crypto, stablecoins, currencies, and more, matching their target return, risk profile, and liquidity needs.”
With Alpaca’s Broker API, Waldo can:
- Provide access to US fixed income and other asset tracking equities and ETFs
- Automate clients’ portfolio rebalancing based on selected allocations and triggers.
- Leverage entity accounts to help businesses manage their funds efficiently and engage in investment activities tailored to their business objectives.
“Having previously built Gatsby, a retail options trading platform that was acquired in 2022, we’ve experienced how complicated brokerage infrastructure can be. With Waldo, we chose Alpaca because of their portfolio management functionality and innovative tools that make onboarding as a correspondent really simple," Belanger-Saleh added.
“Corporate treasury management is moving beyond single-asset cash strategies,” said Yoshi Yokokawa, CEO and Co-founder of Alpaca. “Companies are building thoughtful solutions for businesses that want to manage cash and assets in more modern ways. We’re grateful that Alpaca’s Broker API can play a small part in supporting what Waldo is building as they scale multi-asset trading and treasury capabilities for their customers.”
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About Alpaca
Alpaca is a US-headquartered, self-clearing broker-dealer and a global leader in brokerage infrastructure APIs providing access to stocks, ETFs, options, fixed income, and crypto. Alpaca delivers embeddable finance solutions for tokenization, fully paid securities lending, high-yield cash, 24/5 trading, Shariah-compliant investing and more. Today, Alpaca powers over 9 million brokerage accounts across hundreds of fintechs and institutions in 40+ countries with over $320M in funding.
About Waldo.ai
Waldo is a US-regulated investment Advisor that offers a full suite of tools to treasury teams for startups, SMBs and enterprises to select an investment strategy across thousands of assets (including US and international treasuries, investment grade and non-investment grade fixed income, equities, crypto, stablecoins, currencies and more) that matches their target return, risk profile and liquidity needs. They can also chat with your AI Advisor for insights and strategies to hedge risk specific to their business, like specific currency, risk, interest rate risk or sector exposure.
- 2025 AFP Liquidity Survey, Association for Financial Professionals (AFP), 2025
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