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).




 

By Hyunjin Choi

Qraft Technologies, a member company of the Born2Global Centre, took part in “Closing Bell Ceremony” at the New York Stock Exchange on July 11. The New York Stock Exchange hung the national flag of South Korea on the outside wall of the NYSE and welcomed Qraft Technologies. The executives of Qraft Technologies rang the closing bell at NYSE to celebrate its recent launch of AI-powered ETFs(Exchange Traded Fund) in May. Qraft Technologies listed two exchange funds that are applied with AI and Deep machine learning technology: Qraft AI-Enhanced U.S Large-Cap ETF (NYSE Arca: QRFT) and Qraft AI-Enhanced U.S. Large Cap Momentum ETF (NYSE Arca: AMOM).

 

 

While S&P500 is a capitalization-weighted index, QRFT builds an investment portfolio by managing US large caps with five factors: quality, value, size, low risk and momentum, and AMON for only momentum factor holding a more focused portfolio of 50 stocks in mostly tech field. Using Deep learning technology, AI-powered ETF improvises quantitative investment strategies with a massive amount of data and helps investors to grab opportunities for higher returns. For a month since its launch in May, it already shows meaningful results. QRFT shows 3.25% increase while S&P500 is up only 2.17%. AMON outperformed S&P500 of 1.88% with the increase of 4.05%. Also, AI-enhanced ETF index is corresponding to that of S&P500. “We had over twenty top-notch finance and computer engineers in the development of the AI products, all of whom are from Korea” says Hyung-Sik Kim, CEO at Qraft Technologies with the pride of its proprietary technology. 

 

 

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