back Back

Qraft Technologies closes $146m investment from SoftBank Group

By Leandra Monteiro

January 12, 2022

  • Equity
  • ETFs
  • FinTech
Share

Qraft TechnologiesAI enabled FinTech company Qraft Technologies, Inc. announced that it has closed a $146 million investment from SoftBank Group Corp, 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.

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.

“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 equity market,” said Kentaro Matsui, Managing Partner at SB Investment Advisers and former Managing Director at SoftBank Group Corp. “On the back of our extensive AI ecosystem, we are thrilled to partner up with Mr. Kim and the Qraft team and support their mission of disrupting the asset management industry globally.”

Qraft CEO Marcus Kim believes, “There will be enormous synergy to be had with SoftBank, the leader in investing in disruptive startups, and public equities management powered by Qraft’s AI. This only marks the start of AI technology fundamentally changing the US $100 trillion asset management industry.”

Robert Nestor, former President of Direxion ETFs and Head of iShares Factor ETF business, who recently took charge of Qraft’s US expansion as US CEO, commented, “Qraft’s AI capabilities are second to none in investment management, and it is ripe for disruption with AI’s rapidly evolving capabilities. SoftBank recognizes this with its investment, and together we plan to change asset management.”

To support these effects, Qraft plans to accelerate its global business by hiring top-talents and opening new offices across New York, San Francisco as well as Hong Kong.

Previous Article

January 12, 2022

Twig raises $35 m Series A round to fuel Web 3.0 green payment infrastructure

Read More
Next Article

January 12, 2022

muvin, India’s youth focused neobank raises $3m

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Equity

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 21, 2024

Endava & Finexos partner to bring AI-powered credit decisioning

Read More

May 17, 2024

Niyogin acquires ‘Superscan’ from Orbo.ai to propel AI-led neo-banking

Read More

May 17, 2024

M&T Bank taps nCino & Rich Data Co. to manage credit risk and loan performance

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023