SEOUL, South Korea – (BUSINESS WIRE) – January 10, 2022–

AI-enabled fintech company Qraft Technologies, Inc. (“Qraft” or “the Company”) today announced the closing of a US $ 146 million investment by 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 in the United States and China, while the two sides will also embark on strategic projects to exploit the possibilities of developing AI-enabled public portfolio management systems. for SoftBank.

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Marcus Kim, Founder and CEO of Qraft Technologies (Photo: Business Wire)

Seoul-based Qraft develops and operates deep learning-based algorithms that provide portfolio weighting signals that can be alpha-generative. The company has demonstrated the performance of its proprietary AI engine across all of its NYSE-listed ETFs. Qraft also offers B2B AI solutions ranging from data processing, discovery of investment strategies, order execution to investment analysis and reporting that create unique values ​​for investment managers. global assets.

“Qraft can revolutionize the way financial institutions manage public equity assets, by providing their own AI technologies that have been tested and proven in the US stock market,” said Kentaro Matsui, managing partner of SB Investment Advisers and former Managing Director of SoftBank Group Corp. “On the back of our vast AI ecosystem, we are delighted to partner with Mr. Kim and the team at Qraft and support their mission to disrupt the global asset management industry. “

Qraft CEO Marcus Kim believes that “there will be tremendous synergy with SoftBank, the leader in investing in disruptive startups, and Qraft’s AI-powered public equity management. This only marks the beginning of AI technology that is fundamentally changing the US $ 100,000 billion asset management industry. “

Robert Nestor, former chairman of Direxion ETF and head of the iShares Factor ETF business, who recently took on Qraft’s expansion to the US as US CEO, said: Capabilities evolving rapidly. SoftBank recognizes this with its investment, and together we plan to change the way assets are managed.

To support these effects, Qraft plans to accelerate its global activities by recruiting top talent and opening new offices in New York, San Francisco and Hong Kong.

About Qraft Technologies

Qraft Technologies, Inc. is on a mission to transform alpha delivery into asset management. From data processing to alpha research and business signals, Qraft has a track record of developing innovative AI solutions that have been adopted by leading financial institutions and transformed into successful AI products and services, including ‘one of the leading AI and South Korea-focused equity ETF platforms. the largest supplier of robot-advisor engines.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220110005190/en/

CONTACT: Media contact:

Bernardo Soriano

Gregory FCA for Qraft Technologies

Email: [email protected]

Telephone: 914-656-3880

KEYWORD: SOUTH KOREA UNITED STATES NORTH AMERICA ASIA PACIFIC

INDUSTRY KEYWORD: TECHNOLOGY FINANCE CONSULTING BANKING OTHER TECHNOLOGY ACCOUNTING PROFESSIONAL SERVICES SOFTWARE DATA MANAGEMENT

SOURCE: Qraft Technologies, Inc.

Copyright Business Wire 2022.

PUB: 10/01/2022 11:00 a.m. / DISC: 10/01/2022 11:02 a.m.

http://www.businesswire.com/news/home/20220110005190/en

Copyright Business Wire 2022.