Saturday, February 17, 2024

Funding

Quantit, raises KRW 30 billion Series A investment from Smilegate Holdings.



Korean AI FinTech company, Quantit, has announced that it has secured a  KRW 30 billion  ($26.2 million) Series A investment from Smilegate Holdings. The company aims to commercialize asset management services based on big data and digital technology.


Quantit completed its Series A round with the additional investment from Smilegate Holdings, which is celebrating its 20th anniversary and plans to become a global top-tier entertainment group in the next 20 years, as well as to foster the global financial sector. Quantit will collaborate with Smilegate to achieve innovation in digital technology-based financial services.


Vaiv Company, Quantit’s parent company, is a first-generation artificial intelligence and big data company that was established in 2000 and listed on the KOSDAQ in 2020 as a special technology company in recognition of its AI technology. Based on its AI technology, Vaiv Company offers various businesses such as big data analysis service Sum Trend, problem-solving solution AI Solver, AI Assistant which reduces human labor, digital twin-based metaverse platform Du Planet, and fintech.


Quantit leads the fintech business area, providing financial model-based investment solutions to institutions based on its core technology solution ‘Finter’ for big data-based investment model design and automatic operation. The company is recognized in the industry for its contributions to the field.


Vaiv Company is expanding its AI assistant technology to various financial sectors, and Quantit is promoting collaboration by providing investment solutions while Vaiv Company provides financial data. Vaiv Company’s machine reading comprehension technology (MRC), which is also the core of the AI assistant, took first place in the performance evaluation based on ‘KorQuAD 1.0’, a Korean machine reading comprehension dataset, earlier this year.


Duk Hee Han, CEO of Quantit, said, “It is encouraging to be able to successfully complete this investment attraction despite the difficult financing environment that has continued since last year. We plan to use it to strengthen the existing B2C service and expand our business.”


Quantit :  https://www.quantit.io/

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