Qraft Technologies, an AI fintech startup, announced on the 29th that it has successfully attracted an investment of 10 billion won ($9 million) from Smilegate and Korea Development Bank (KDB), with each investing $4.5million. They now have a cumulative investment of 20.6 billion won and are planning to boost their R&D and expand their global sales and marketing activities. They have also established a Hong Kong subsidiary in January of this year and are actively planning to expand their business abroad.
Qraft’s AI technology minimizes the cost inefficiencies in asset management and maximizes the efficiency of investment. They are redefining the value chain of AI robo-advisor – AI fund management - AI execution system in the asset management field through AI based deep learning and machine learning technology.
Their AI based order execution system technology provides more efficient prices in comparison to the actual market, and this technology was publicly proven through an open dealing competition with institutional traders. The technology is currently being used by Korean institutions.
Qraft has collaborated with over 20 financial institutions and big tech companies to date, and is expanding the scope of solutions based on experience and know-how. In addition, since 2019, a total of four U.S. stock ETFs (codenamed'QRFT','AMOM','HDIV', and'NVQ') have been listed on the New York Stock Exchange (NYSE).