Given the commission-free trading revolution and fintech disruptions, more people have access to stock market wealth.
Adding, a younger generation of investors have developed a distrust in both the government nor financial institutions. Instead, they trust themselves and their networks.
In engaging this new generation, as well as bridging the gap between the desire to invest and knowledge, Benzinga spoke with Qooore CEO Igor Sheremet and strategy advisor Alex Kochetkov.
About: Founded in 2020, Qooore is on a mission to drive interest and empower investment in financial markets.
The firm’s genesis comes alongside news of record retail trading activity, as well as the rise and fall of stocks like GameStop Corporation GME, driven in part by speculative commentary on online forums like WallStreetBets.
“We’ve seen this trend,” Kochetkov said. “Our position is not to add to it -- they hype -- which can lead to people losing money.”
Qooore is redefining financial education, providing millennials and Generation Z the tools to become the smartest generation of investors, ever.
Through “educational fintertainment,” a whole new concept that merges the best of Robinhood and TikTok, Qooore delivers to users engaging, easy-to-digest financial news, data, and trading access.
“We’re helping them learn more about the market and take the right steps to achieve their financial goals,” Kochetkov said.
Sheremet added, “We’re developing system profiles in order for users to get a chance to communicate and compete with each other, as well as share and follow successful strategies.”
How It Works: Through Qooore’s app, investors can watch, learn, get insights and invest. Using a learn-by-play approach, users read news and educational insights tailored to them through Qooore’s AI, taking tests to confirm their knowledge.
Thereafter, users can interact and follow each other, earn rewards for their engagement, as well as buy stock in companies they learn about.
Qooore’s founders pride themselves on a philosophy that seeks to limit uninformed trading.
“Our main competitive advantage is experience and user interface. Young people prefer to swipe instead of looking through charts and boring texts,” Kochetkov said. “Generation Z spends less time reading than any other generation, so we need to get all the information they need in a few seconds.”
As users gain experience, they unlock levels that the firm’s founders say are protection from the lack of knowledge.
“That’s how we educate our users … for basic knowledge about the stock market and interesting things about companies like which batteries Tesla uses, for example.”
Innovation Outlook: After closing a pre-seed round and crossing 50,000 installs, Qooore is looking to follow-through on its seed round.
The funds will help fuel the development and innovation of Qooore’s social functions and trading.
“Right now, content is generated by our development team, the team of analysts, and AI,” Kochetkov said. “We want to add social functions and give the opportunity for our users to generate content and share it with their followers.”
Eventually, users will be able to tip each other for insights and successful strategies.
“We’re focused on obtaining our licenses right now, and the main function of our application will be trading.”
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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