QARA Soft
Fintech start-up that provides online investment advisory and asset management services using deep-learning technology.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | KRW3.5b | Series A | |
| Total Funding | 000k | ||
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QARA Soft, a South Korean fintech company established in 2014, operates as a developer of an asset management platform that leverages artificial intelligence. The firm was co-founded by Changhwan Byun (also known as Luke Byun), Jongwook Oh, and Katie Bomi Son. Initially, QARA Soft launched a platform named "QARA" that connected individual asset managers with peer-to-peer investors, but it was suspended shortly after its launch due to regulatory challenges in South Korea. This pivot led the company to focus on enhancing its proprietary deep-learning engine, "Market Dreamer," which performs quantitative market analysis without human intervention.
The company's primary offering is a mobile application called KOSHO, which utilizes deep learning technology to forecast global market trends for the upcoming week. KOSHO, which means "ancient book" in Japanese, analyzes over 30 years of market history and more than 400 million data points across stocks, financial instruments, and cryptocurrency markets to provide its predictions. The service is aimed at individual investors who may find it difficult to interpret complex financial reports and technical analyses. KOSHO provides forecasts for major indices like KOSPI, NYSE, and NASDAQ, as well as over 17,000 individual stocks and 22 major cryptocurrencies. The platform's business model includes a rewards system where users earn coins for checking forecasts, which can then be used to purchase detailed global stock portfolios developed by fund managers or other rewards.
QARA Soft targets the global financial market, with a particular focus on individual retail investors. The company's revenue is generated through its robo-advisory services and asset management platform. The platform provides simplified financial information and identifies market trends to generate forecasts, enabling users to make more informed investment decisions. In November 2020, QARA Soft secured $3 million in a Series A funding round with participation from investors including Naver, Kingsley Asset Management, and NXC.
Keywords: QARA Soft, KOSHO, fintech, robo-advisor, asset management, artificial intelligence, deep learning, financial forecasting, stock market analysis, cryptocurrency analysis, investment platform, Changhwan Byun, Katie Bomi Son, Market Dreamer, South Korean startup, financial technology, mobile investing, market prediction, individual investors, data-driven investing