Qraft Technologies, Inc., a Seoul, South Korea-based AI-enabled fintech company, announced that it closed a $146 million investment from SoftBank Group Corp. (“SoftBank”), which includes primary growth capital and secondary capital that will be used to fund share purchases from investors.
The proposed transaction is expected to accelerate Qraft’s ongoing expansions into the US and China, while the two parties will also embark upon strategic projects that aim to pursue the possibilities of developing AI-enabled public portfolio management systems for SoftBank.
Company: Qraft Technologies, Inc
Raised: $146.0M
Round: Series C
Funding Month: January 2022
Lead Investors: SoftBank Group Corp.
Additional Investors:
Company Website: https://www.qraftec.com/
Software Category: AI-driven Asset Management
About the Company: Founded in 2016 and led by Marcus Kim, CEO,
Qraft Technologies, Inc. is on a mission to transform alpha delivery in asset management. From data processing to alpha research and trade signals, Qraft has a track record of developing innovative AI solutions that have been adopted by major financial institutions and turned into successful AI products and services, including one of the leading AI-driven equity ETF platforms and Korea's largest Robo-advisor engine provider. Headquartered in Seoul, Qraft develops and operates deep learning-based algorithms that provide portfolio weight signals which can be alpha-generative. The company has demonstrated the performance of its proprietary AI engine throughout its NYSE-listed ETFs. Qraft also offers B2B AI solutions ranging from data processing, investment strategy discovery, order execution to investment analysis & reporting that create unique values for global asset managers.
Source: https://www.businesswire.com/news/home/20220110005190/en/Qraft-Technologies-Closes-US146-Million-Investment-from-SoftBank-Group-Entering-into-a-Strategic-Partnership-to-Accelerate-AI-in-the-Asset-Management-Industry