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March 06, 2021

Fintech startup Qarasoft raises $3M in series A funding

PUBLISHED : November 24, 2020 - 17:36

UPDATED : November 24, 2020 - 17:37

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QARA Soft, a South Korean fintech startup, said Nov. 24 that it has raised $3 million from Mirae Asset, Naver, Nexon’s NXC and Kinsley Asset Management in its Series A funding round.

QARA, founded in 2014, provides a robo-adviser solution called Market Dreamer to a slew of local financial firms, including KB Asset Management, KB Kookmin Bank, Hanwha Asset Management and Mirae Asset.

QARA specializes in AI deep learning technology and provides customized investment analysis to asset management firms. It also offers weekly market forecasts for regular consumers. QARA’s Market Dreamer analyzes the past 30 years of market history and nearly 400 million data points to forecast future financial performance, the company said.



The company also runs Kosho, a financial forecasting and analytics application for individual investors, and Whatisfund, a search engine designed for professional investors. 

With the latest investment, the company said it plans to hire talents from various sectors to expand its services and it also plans to launch a new global stock trading service early next year for individual users. 

Meanwhile, the company appointed Lim Jae-ho from JPMorgan and Katie Bomi Son, former Qarasoft Global CEO, who completed her three-year tenure, as management advisers. Luke Chang-hwan Byun will lead Qarasoft as the new CEO, the company said. 

By Park Ga-young (gypark@heraldcorp.com)

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